State Revenue Falls 5.8 Percent in May as Tourist Arrivals Drop

MALE’ — The Maldives Inland Revenue Authority collected MVR 2.05 billion in May, down 5.8 per cent from the same month last year and 0.3 per cent below its own forecast, the tax authority said on Wednesday.

GST was the largest single contributor, bringing in MVR 1.1 billion, or 56.3 per cent of total revenue. Other collections included income tax at MVR 234 million, airport development fees at MVR 158 million, departure tax at MVR 156 million, green tax at MVR 139 million, and work permit fees at MVR 71 million.

MIRA attributed the year-on-year decline mainly to lower tourism-related receipts. Tourism GST, green tax and airport development fees all came in below last year’s figures, driven by a 24.4 per cent drop in tourist arrivals in May compared to May 2025. Tourism-linked revenue fell 19.5 per cent overall.

Figures are drawn from MIRA’s May 2026 revenue report.