MIRA recovers MVR 3.76 billion in unpaid dues to the state

Maldives Inland Revenue Authority (MIRA) recovered MVR 3.76 billion in outstanding revenue last year, as part of its efforts to strengthen enforcement and recover dues owed to the state.

This included taxes, rents, and various fees, according to MIRA’s 2024 annual report.

Notices to file tax returns were sent to 52,158 individuals and entities, but only 4,311 complied, last year. Despite the low compliance rate, the notices helped recover MVR 2.74 billion.

Additional enforcement actions included dues clearance, public disclosing identities, bank account freezing, and legal proceedings. The highest recovery came from dues clearance, which yielded MVR 625.7 million. Payment reminders issued to 148 parties brought in another MVR 239.9 million.

MIRA also froze 501 bank accounts, recovering MVR 109.4 million through this method. Furthermore, 1,029 individuals were offered installment payment plans to settle their dues.

Overall, MIRA collected a total of MVR 28.1 billion in 2024. This included MVR 22.77 billion in tax revenue, which was 9.7 percent higher than the forecast, and MVR 5.33 billion in non-tax revenue, more than the projected 38.5 percent.