The national tax agency, Maldives Inland Revenue Authority (MIRA) has reported a revenue collection of USD 170.6 million in June this year, the highest amount recorded in the month of June over the past five years.
According to statistics issued by the agency, the revenue collected in June is an increase of 27 per cent compared to the same period last year. While USD 129.7 million was collected in June 2024, the revenue collected this June exceeds the projected amount for the period by 10.4 per cent.
The increase in revenue was mainly due to higher revenue from Tourism Goods and Service Tax (TGST), Green Tax, as well as land sale and transfer fees. The increase in TGST was due to a 13.1 per cent increase in tourist arrivals in June this year compared to the same month last year.
While Goods and Service Tax (GST) was the largest contributor to revenue in June, GST collection totalled USD 62.3 million. Income tax collection amounted to USD 41.1 million, while resort rent tax stood at USD 26.1 million. Meanwhile, Green Tax accounted for USD 10.6 million, and Airport Development Fee for USD 8.6 million. The same amount was received as Departure Tax.
The revenue collected by the agency in June included USD 116.7 million.