The Maldives Inland Revenue Authority (MIRA) collected USD 261 million in tax revenue last month.
According to MIRA, this figure is 17 percent higher than the amount collected during the same period last year, and 26.8 percent above estimates.
MIRA said the main drivers of the increase were higher Goods and Service Tax (GST) from tourism, and increased income tax from companies and non-individuals. A rise in tourist arrivals, up 18.8 percent compared to the previous month, also contributed to higher Green Tax and airport-related tax collection. These also contributed to surpassing the forecast for the period.
The main contributor for revenue was GST, with USD 156 million collected. While USD 29 million was collected as resort rent, USD 20 million was received as Green Tax. A total of USD 18 million was received as Airport Development Fee, while USD 16 million was received as Departure Tax, and USD 13 million came from income tax.
MIRA said 31.4 percent of the revenue collected in March was from past-due tax payments. About 7.6 percent came from attempts to recover outstanding amounts via enforcement. While a total of USD 57 million was recovered through enforcement, this includes USD 26 million via notices, USD 27 million via dues clearance, USD 0.8 million via reminders, and USD 4 million via instalment plans.
The report also indicates that state revenue included USD 205.18 million received in US dollars.