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Uncollected money owed to the Maldivian state rose by MVR 600 million in the first quarter to reach MVR 14.4 billion, driven by unpaid taxes, resort leases, and SOE liabilities, according to MIRA's latest report.
News Desk
Building that have office of MIRA - Photo: Corporate Maldives
The total amount of unpaid money owed to the state grew by MVR 600 million during the first quarter of this year, according to the quarterly report released by the Maldives Inland Revenue Authority (MIRA).
The quarter-on-quarter increase brings total uncollected state revenue to MVR 14.4 billion—representing a 5 percent rise compared to the MVR 13.8 billion in unpaid dues recorded at the end of last year.
Taxes account for the largest share of uncollected funds owed to the government. According to MIRA's report, unpaid tax liabilities rose from MVR 7.8 billion to MVR 8.2 billion over the three-month period. Uncollected General Goods and Services Tax (GGST) stands at MVR 3.5 billion, while outstanding Income Tax liabilities reached MVR 2.4 billion, and unpaid Tourism Goods and Services Tax (TGST) stands at MVR 1.6 billion.
In addition to taxes, uncollected resort lease payments surged significantly during the first quarter, rising from MVR 5.7 billion to MVR 6 billion.
Financial liabilities owed by State-Owned Enterprises (SOEs) also escalated during the quarter. Total unpaid dues from SOEs grew from MVR 2.4 billion to MVR 3.5 billion, with MVR 3.3 billion of that total categorized as tax liabilities.
Despite the growing volume of uncollected revenue, MIRA successfully recovered MVR 2 billion in unpaid dues during the first quarter through targeted enforcement measures. The revenue collection authority noted that recoveries were
achieved primarily within legal frameworks by issuing formal notices and freezing the bank accounts of non-compliant taxpayers.
Key Financial Dues Breakdown
Unpaid Tax Liabilities Breakdown (Total: MVR 8.2 Billion):
Unpaid Non-Tax Liabilities:
