Iran’s tax income amounts to $18.5B

Business Materials 9 March 2015 14:14 (UTC +04:00)

Baku, Azerbaijan, Mar. 9

By Fatih Karimov - Trend: Iran's tax income amounted to $18.5 billion in the first 11 months of the current Iranian fiscal year (March 21, 2014-February 19, 2015).

Ali Askari, head of Iran's tax organization, said that the figure indicates an increase by 49 percent compared to the same period of the preceding year, Iran's ISNA news agency reported March 9.

Ninety-six percent of the tax income envisaged by the national budget bill has been realized, he noted.

He emphasized the need to prevent tax evasion, adding that it should be dealt with as a crime.

Tax revenues account for 700 trillion rials of the country's total budget in the current fiscal year (started on March 21, 2014).

Going forward, tax revenues are expected to account for 870 trillion rials of the country's total budget in the next fiscal year (will start on March 20, 2015).

About 25 percent of the Iran's overall economy does not pay taxes, Askari said, adding that tax evasion is the main problem of the country's taxation system.

The US official exchange rate is currently about 28,500 rials in Iran.

Edited by CN