The Maldives Inland Revenue Authority (MIRA) has reported that MVR 1.3 billion was collected as income tax during the first two months of this year.

This figure represents a significant increase compared to the same period last year.

According to MIRA's statistics, the MVR 1.37 billion collected in income tax during the first two months of the year marks a 41.1 percent growth over the MVR 975.5 million received during the corresponding period last year.

The largest portion of income tax revenue was derived from taxes on companies and non-individual entities.

In the past two months, revenue from corporate and non-individual income tax amounted to MVR 635.7 million, while MVR 684.1 million was collected during the same period last year.

Despite a slight decrease in revenue from companies and non-individual entities, there was a notable increase in tax revenue from non-residents and temporary residents. In the first two months of the year, revenue from this category reached MVR 181.1 million, which is an increase of approximately 200 percent compared to the revenue collected during the same period last year.