The Maldives Inland Revenue Authority (MIRA) has reported a 16 percent increase in state revenue by the end of April compared to the same period last year, despite a notable decline in tourist arrivals.
According to figures released by the authority, total revenue collected in April reached MVR 2.63 billion, while foreign currency earnings stood at USD 120.7 million. Dollar-denominated revenue, however, saw a marginal drop of 0.3 percent compared to April 2025.
Tourism Dip Weighs on Dollar Earnings
MIRA attributed the slight decline in dollar revenue primarily to a fall in tourist arrivals and reduced collections from corporate social responsibility (CSR) fees.
Data shows that tourist arrivals in April fell by 19.8 percent year-on-year, with authorities linking the decrease largely to ongoing instability in the Middle East — a key transit region for travellers to the Maldives.
Strong Tax Collections Offset Impact
Despite these challenges, overall revenue performance exceeded expectations, driven by higher collections from Goods and Services Tax (GST), tourism land rent and work permit fees. Additional gains were also made through the recovery of overdue tax payments.
In April alone, MIRA recovered MVR 543 million in outstanding dues, including MVR 372 million through enforcement notices and MVR 96 million via settlement efforts.
GST remained the largest contributor, generating MVR 1.7 billion and accounting for 63.6 percent of total revenue for the month.
Key Revenue Streams
Other significant sources of income included green tax, which brought in MVR 185 million, and income tax collections totalling MVR 178 million.
Revenue from Airport Development Fees and Departure Tax each stood at MVR 152 million, while resort rent contributed MVR 129 million.
Continued Focus on Compliance
MIRA said it will continue to prioritise efforts to strengthen tax compliance and recover outstanding payments under existing regulations, as part of its broader strategy to maintain steady revenue growth.
The latest figures highlight the resilience of government revenue streams, even as external factors such as global travel disruptions continue to affect the tourism-dependent economy.
