MIRA collects MVR 2.8 billion in February revenue

The Maldives Inland Revenue Authority (MIRA) collected MVR 2.8 billion in revenue in February 2026, according to the authority’s latest Monthly Revenue Collection Report. The total includes USD 126.85 million collected in foreign currency, reflecting the continued contribution of tourism-related taxes to state revenue.

MIRA said revenue collected during the month was 0.8 percent lower compared to February last year and 11.6 percent below the forecast for the month. The authority attributed the decline compared to the same period in 2025 to lower collections from lease period extension fees, Airport Development Fee and Tourism Land Rent.

The report noted that the shortfall from projections was mainly due to lower-than-expected collections from Goods and Services Tax (GST), airport taxes and fees, and Green Tax.

GST remained the largest contributor to government revenue, accounting for 52.3 percent of the total revenue collected in February. Income tax contributed 21.4 percent, while green tax accounted for 7.2 percent. Other notable sources of revenue included departure tax, Airport Development Fee and lease period extension fees.

According to MIRA, tourism GST accounted for the largest share of foreign currency collections, making up 59.3 percent of USD revenue during the month. The authority also noted that 19 percent of the revenue collected in February came from payments received after past deadlines, while 16.9 percent was secured through targeted initiatives to recover outstanding dues.