Iran’s value-added tax income up 46 per cent

Business Materials 13 March 2013 12:19 (UTC +04:00)

Azerbaijan, Baku, Mar.13/ Trend G.Mehdi/

Value-added tax income in Iran has risen by 46 per cent in the current Iranian calendar year which ends on March 20, showing a 46 per cent growth year on year, ISNA quoted State Tax Organisation deputy director Alireza Taribakhsh as saying.

The income was 103 per cent of the figure which has been envisioned by the budget law, he noted.

Iran's Finance and Economic Affairs Ministry has set the target of 430 trillion rials (about $35 billion) in tax income for the next Iranian calendar year, while the State Tax Affairs Organisation has cast doubt on realising the goal, ILNA reported.

The organisation said that this year's tax revenues had been projected to reach 360 trillion rials (about $29 billion), but just 90 per cent of the planned sum will be earned in the most optimistic case.

On January 1, the Fars News Agency quoted Askari as saying that the Iranian administration earns about 43 per cent of its current budget through taxable incomes.

According to the fifth five-year national development plan (2010-2015), 100 per cent of the needed sum should be secured through taxable income by the end year of the plan, he added.

On November 28, 2012, Askari said that Iran gained roughly 194 trillion rials (about $16 billion) in direct tax income during the first eight months of the current Iranian year.