The total revenue collected by MIRA in March 2026 amounted to MVR 4.03 billion. This is an increase of 17.0% compared to the revenue collected during the same period last year. It is also 26.8% higher than the projected revenue for March 2026.
According to MIRA, the main reason for the increase in revenue in March 2026 compared to March 2025 is the rise in revenue from Tourism Goods and Services Tax (TGST), taxes collected from Corporate Income Tax, and the increase in Green Tax revenue. Additionally, compared to February 2025, the number of tourist arrivals in February 2026 increased by 18.8%, which also contributed to higher revenue from TGST, Green Tax, and Airport Taxes.
The main reason for the 26.8% increase compared to projections for March 2026 is the higher-than-expected revenue from GST (both tourism and non-tourism sectors) and Green Tax. Of the total revenue collected in March 2026, 31.4% consists of payments for prior periods. Furthermore, 7.6% of the revenue was collected through efforts to recover outstanding dues.
In March 2026, MIRA recovered a total of MVR 882 million from outstanding payments. This includes MVR 397 million collected through notices and MVR 411 million through dues clearance. Additionally, MVR 13 million was collected through reminder phone calls to taxpayers, and MVR 61 million was collected through installment agreements.
The largest share of revenue collected by MIRA in March 2026 comes from GST, accounting for 59.6% or MVR 2.4 billion. The second-largest source is Resort Land Rent, contributing 10.9% or MVR 440 million. Other sources include Green Tax (MVR 312 million or 7.7%), Airport Development Fee (MVR 271 million or 6.7%), Departure Tax (MVR 248 million or 6.1%), and Income Tax (MVR 198 million or 4.0%).
Out of the total revenue collected in March 2026, USD 205.18 million was in US dollars.