The Maldives government collected nearly MVR 2 billion in revenue for the month of August, representing a 34.5% increase over the initial estimates, according to the Maldives Inland Revenue Authority (MIRA).
MIRA reported that total revenue for August reached MVR 1.98 billion, with USD 62.82 million generated in dollar-based revenue. Compared to the same period last year, this marks a 24% increase in total collections.
The bulk of the revenue came from taxes on goods and public services, with the Goods and Services Tax (GST) accounting for 53.3% of the total, contributing MVR 1.06 billion. Income tax collections amounted to MVR 472.66 million, or 23.9% of the overall revenue for August.
The growth in revenue was primarily driven by higher non-individual taxes, corporate income taxes, green tax, and GST collections. These increases reflect a stronger financial performance in August compared to the same month last year.
