MIRA notes progress in efforts to recover outstanding debts

Commissioner General of Taxation Hassan Zareer has said positive progress in the Maldives Inland Revenue Authority’s (MIRA) efforts to recover outstanding debts. Speaking to PSM News, Zareer highlighted that MIRA is currently engaging with individuals and entities that owe significant amounts of money. As a result of these efforts, he said that the authority has started seeing tangible outcomes, with revenue collections exceeding initial projections. He also noted that revenue collected in July was 15% higher than expected, while August saw a 33% increase, and September recorded a 31% increase. Additionally, Zareer noted that the culture of regular tax payment has improved, partly due to tax exemptions. He said that MIRA has held meetings with 80 individuals to remind them of their tax obligations, with 80% cooperating. He, however, said that 20% of the individuals have not complied, and the authority plans to take appropriate actions against those who fail to pay. MIRA has said that a total of approximately USD 1 billion in tax and non-tax revenue, including fines. The figure consists of USD 454 million in tax revenue and an equal amount in non-tax revenue. To promote accountability, the authority has begun publishing the names of those who fail to file tax returns or pay their taxes.