The state generated a total revenue of MVR 2.05 billion during the month of May. While this reflects a 5.8% decrease compared to the same period last year, the figure remains closely aligned with the initial projections forecasted by the Maldives Inland Revenue Authority (MIRA). The primary factors contributing to this decline include a 19.5% reduction in tourist arrivals, alongside a decrease in revenue from Goods and Services Tax (GST), land rent, and quota fees. Furthermore, MIRA highlighted that the ongoing conflict in the Middle East has had a notable impact on the tourism sector.
In terms of revenue composition, GST accounted for the largest share, contributing MVR 1.15 billion. Other significant revenue streams included Income Tax at MVR 234 million, Green Tax at MVR 139 million, and Airport Fees totaling approximately MVR 314 million. Additionally, through proactive recovery efforts, MIRA successfully collected MVR 382 million in outstanding dues. These funds were recovered through various enforcement measures, including the issuance of notices and the facilitation of installment-based payment arrangements.
