Iran sets pre-conditions for clearance of luxury goods

Business Materials 30 May 2019 10:52 (UTC +04:00)

Tehran, Iran, May 30


According to the Ministry of Industry, Mining and Trade order to the Governor of the Central Bank of Iran, 550 import tariffs have been changed, Trend reports citing ISNA.

Correspondingly, the commercial and clearance process of luxury goods are allowed under specific conditions. These goods are allowed to be cleared if the bills of loading have been issued and the needed foreign currency to import those commodities has been provided.

According to the announcement, the allocation of foreign exchange at the official rate (42,000 rial per dollar) for 1,270 rows of commodity tariffs remains unchanged.

Furthermore, the tariffs for certain goods were transferred to group II of commodities, which, if approved by the Ministry of Health, will be added to the list of imports of goods at the official exchange rate. The second group of imported goods consists of raw materials and intermediate goods.

According to the instructions of the Central Bank of Iran, petrochemicals, the steel and mineral companies have to offer their export-earned currency in the Nima system. According to the Customs instruction, items such as horse for racing, flatfish, catfish, lobster variety, tomato, greenhouse tomatoes, Indian pears, Papaya, onions, garlic, Nastaran fruits, Abujah watermelons, Natural rubber, stamps, pipe, pocket lighter, cigarette holders, cigar, flippers, dolls, billiard tables, game cards, snooker tables and bowling equipment are among the goods considered as luxury goods of group IV.

The major commodities in group I and II are soybeans, legumes, and medical, surgical and laboratory devices.