The Maldives Inland Revenue Authority (MIRA) has recorded a 13.6% increase in state revenue for April compared to the same month last year.
The latest statistics published a by MIRA show that revenue for April reached USD137 million, marking a 13.6% rise from the previous year. It is also a 4.8% increase over the projected amount for this year.
MIRA attributes this revenue growth to improved collections across various sectors. The Goods and Services Tax (GST) was the largest contributor, bringing in USD94 million. Income Tax followed with USD9.6 million, Airport Development Fees contributed USD65 million, Departure Tax accounted for USD7 million, and Green Tax added USD7 million. Other taxes and fees totaled USD12 million.
The increased revenue compared to April last year is primarily due to higher GST, Airport Tax and Fees, and Green Tax collections. In addition, tourist arrivals in March increased by 11.9% compared to March of the previous year, which also boosted Tourism Goods and Services Tax (TGST) and Airport Taxes and Fees. Revenue from TGST, Airport Taxes and Fees, and Green Tax also increased by 8.3% above the estimated figures, reflecting the higher number of tourists in March.