MIRA Recovers 639 Million in Tax Revenues Amid Ongoing Collection Efforts

The Maldives Inland Revenue Authority (MIRA) has announced a significant recovery of 639 million from tax and other revenue sources, as detailed in its recent second-quarter report. This figure underscores the authority's commitment to enhancing tax compliance and ensuring fiscal responsibility in the nation.

According to the report, 515 million was collected through persistent outreach efforts over the past six months, which included repeated calls to taxpayers and reminders regarding their tax obligations. Key components of this recovery include dues clearance amounting to 93 million, 21 million from frozen bank accounts, and 12 million in overdue payments. Additionally, MIRA successfully recovered MVR 135,000 through taxpayer reminders and MVR 10,000 during court proceedings related to outstanding tax obligations.

Despite these efforts, the state continues to face a substantial tax and rental debt, totaling ₹10 billion. This amount comprises 5.5 billion in unpaid taxes and 4.3 billion in resort rentals, highlighting ongoing challenges in revenue collection.

MIRA has also conducted 83 audits targeting suspicious transactions in the last six months, which included 14 audits related to Business Profit Tax (BPT), 10 audits on Goods and Services Tax (GGST), 17 audits concerning Tourism Goods and Services Tax (TGST), 37 audits for income tax, and five audits related to green tax. These audits have revealed an additional 93 million owed to the state, emphasising the importance of thorough financial oversight.

Furthermore, MIRA has identified 10,796 taxpayers who have failed to file their tax returns, with 8,947 classified as tax evaders. This situation underscores the need for enhanced compliance initiatives and educational outreach to inform taxpayers of their responsibilities.