MIRA collected a total revenue of MVR 3.41 billion in July 2026. This represents an increase of 0.2% compared to the revenue collected during the same period in 2025. However, the amount collected was 3.6% lower than the forecast revenue for July 2026.
Compared to July 2025, the increase in revenue in July 2026 was mainly due to higher collections of Bank Income Tax, Land Acquisition and Conversion Fee, GGST and Tourism Land Rent. Revenue from Bank Income Tax increased due to advance payments made before the due date and because the first interim payment for the 2026 income tax liability was higher than that of the previous year. Similarly, revenue from Land Acquisition and Conversion Fee also showed strong growth in July 2026, exceeding the amount collected in July 2025. Additionally, GGST collections in July 2026 increased significantly compared to July 2025, largely due to timely payments made in line with the quarterly GST deadline that fell during the month.
The main reasons revenue was below the forecast for July 2026 were due to lower collections from Corporate Income Tax, Non-resident Withholding Tax, and Bank Income Tax. Income Tax revenue was lower as the payment deadline coincided with a public holiday and was therefore extended to 02 August 2026. Bank Income Tax revenue was also lower as many taxpayers had already made advance payments before the July deadline. Furthermore, tourist arrivals in July 2026 were 3.1% lower than in July 2025.
As part of its efforts to recover unpaid taxes and other outstanding payments, MIRA recovered a total of MVR 449 million during July 2026. This amount included MVR 248 million collected through notices issued to taxpayers, MVR 92 million through dues clearance, MVR 78 million through installment payment agreements, MVR 30 million through reminder phone calls encouraging taxpayers to settle their liabilities. 18.4% of the revenue collected in July 2026 was collected through payments received from past deadlines, while a further 11.0% was secured through targeted initiatives to recover outstanding dues.
The largest source of revenue collected in July 2026 was Income Tax, which accounted for 48.6% of total revenue, amounting to approximately MVR 1.66 billion. The second largest source was GST, contributing 30.4% or MVR 1.05 billion. Other major sources of revenue included Green Tax, which generated MVR 142 million (4.2%), Airport Development Fee, which generated MVR 136 million (4.0%), Departure Tax, which generated MVR 134 million (3.9%), and Land Acquisition and Conversion Fee, which generated MVR 81 million (2.4%).
The total revenue collected during July 2026 also included USD 108.36 million.