MIRA Recovers USD 225.7 Million in Outstanding State Revenue in Six Months

MIRA Recovers USD 225.7 Million in Outstanding State Revenue in Six Months

World ·
The Maldives Inland Revenue Authority (MIRA) recovered approximately USD 225.7 million in outstanding tax and non-tax revenue during the first half of the year. The agency reported that the bulk of these collections occurred in the first quarter, signaling an intensified crackdown on state debts. According to official statistics, MIRA recovered USD 135.5 million in the first quarter and USD 90.1 million in the second. The authority achieved these results by expanding its recovery measures and issuing formal notices to delinquent payers as mandated by regulations. Formal dunning and official notices proved to be the most effective tool, accounting for USD 155 million of the total recovered. Other recovery streams included USD 55.8 million through dues clearance, USD 12.5 million via telephone and email reminders, USD 1.4 million through name disclosure, and nearly USD 1 million through the freezing of bank accounts. To combat non-compliance, MIRA issued thousands of final notices to parties failing to meet their obligations. In the first quarter, 10,701 parties were notified for failing to file returns, while 9,798 received similar notices in the second quarter. Additionally, notices for unpaid taxes were sent to 5,776 parties in the first quarter and 6,586 in the second. Beyond notices, the authority utilized investigative audits to determine precise tax liabilities for non-compliant entities. MIRA completed 73 audits during the six-month period, resulting in an additional USD 6 million in assessed taxes. The agency further bolstered oversight by conducting 2,612 compliance visits to ensure adherence to national tax laws. These enforcement actions are supported by recent amendments to the Tax Administration Act, which granted MIRA expanded powers to recover state funds and strengthen the overall enforcement of tax laws. These legal updates provide a clearer framework for determining tax liabilities for those who fail to file returns or settle their debts with the state.