MIRA collected a total revenue of MVR 2.42 billion in August 2026. This represents an increase of 14% compared to the revenue collected during the same period in 2025. The amount collected was also 24% higher than the forecasted revenue for August 2026.
The increase compared to August 2025 was mainly driven by the extension of the deadline for filing and paying 2025 Income Tax as the initial deadline coincided with a public holiday, leading to an extension of deadline to 2nd August. As a result, revenue from Corporate Income Tax, Bank Income Tax, and Personal Income Tax increased during the month. Growth in TGST collections also contributed to the higher revenue, mainly due to large recovery of outstanding payments of past deadlines. In addition, Lease Period Extension Fee was collected on August 2026, whereas no collections were recorded in August 2025. Similarly, higher Work Permit Fee collections compared to August 2025 also contributed to the increase.
The main reasons revenue exceeded forecasts for August 2026 are primarily because of higher collections from Income Tax, GST, TGST and Bank Income Tax. The extension of the Income Tax deadline and the receipt of one-off payment under Lease Period Extension Fee were among the key factors behind the stronger performance. 14.8% of the revenue collected in August 2026 was collected through payments received from past deadlines, while 3.01% was secured through targeted initiatives to recover outstanding dues.
As part of its efforts to recover unpaid taxes and other outstanding payments, MIRA recovered MVR 497 million during August 2026. This included MVR 302 million through notices issued to taxpayers, MVR 77 million through dues clearance processes, and MVR 105 million through installment agreements. In addition, MVR 7 million was collected through reminder phone calls, MVR 0.89 million through action policy measures, and MVR 4.60 million through bank account freezing policy.
GST remained the largest source of revenue, accounting for 51.5% of total collections, equivalent to MVR 1.25 billion. Revenue from Income Taxes was the second-largest contributor, accounting for 20.2% or MVR 490 million. Other major revenue sources included Green Tax at MVR 200 million (8.3%), Airport Development Fee at MVR 146 million (6.0%), Departure Tax at MVR 144 million (5.9%), and Work Permit Fees at MVR 77 million (3.2%).
The total revenue collected in August 2026 also included USD 98.08 million.