Tax Recovery and GST Boost Offset Tourism Decline

The Maldives Inland Revenue Authority (MIRA) reported a 16% increase in state revenue by the end of April compared to the same period last year, despite a notable decline in tourist arrivals. Total revenue collected in April reached MVR 2.63 billion, with foreign currency earnings at USD 120.7 million. Dollar-denominated revenue saw a marginal drop of 0.3% compared to April 2025. Tourist arrivals fell 19.8% year-on-year, attributed to instability in the Middle East. However, strong tax collections from GST, tourism land rent, work permit fees, and recovery of overdue tax payments offset the tourism decline.

The Maldives Inland Revenue Authority (MIRA) reported a 16% increase in state revenue by the end of April compared to the same period last year, despite a notable decline in tourist arrivals. Total revenue collected in April reached MVR 2.63 billion, with foreign currency earnings at USD 120.7 million. Dollar-denominated revenue saw a marginal drop of 0.3% compared to April 2025. Tourist arrivals fell 19.8% year-on-year, attributed to instability in the Middle East. However, strong tax collections from GST, tourism land rent, work permit fees, and recovery of overdue tax payments offset the tourism decline.

The Maldives Inland Revenue Authority (MIRA) reported a 16% increase in state revenue by the end of April compared to the same period last year, despite a notable decline in tourist arrivals. Total revenue collected in April reached MVR 2.63 billion, with foreign currency earnings at USD 120.7 million. Dollar-denominated revenue saw a marginal drop of 0.3% compared to April 2025. Tourist arrivals fell 19.8% year-on-year, attributed to instability in the Middle East. However, strong tax collections from GST, tourism land rent, work permit fees, and recovery of overdue tax payments offset the tourism decline.

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