Iran Parliament approves tax on imported goods

Business Materials 21 January 2020 15:38 (UTC +04:00)
Iran Parliament approves tax on imported goods

TEHRAN, Iran, Jan.21


Iran Customs Administration is bound to obtain tax and charges from imported goods during final stage of their release, while it would receive the tax of abandoned goods before final release.

Iranian parliament has approved the value added tax article 16 which specifies the process of tax payment, Trend reports citing IRNA.

Importers should pay taxes during process of cargo release to the customs account. Iran's Customs Administration is bound to record the tax payers' information, and create access to the information for other organizations.

The article is about process of recording tax and charges of tax payers before the final stage of distribution, and also includes barter, extradition. The law is to be approved by the ministers of economic affairs, oil and energy in six months.

Tax on water, power and gas will be applied on consumer's bill while produced oil including crude oil, gas condensates and natural gas and produced goods only pay tax once during sale at the final stage of production by the National Iranian Oil Refining and Distribution Company or other subsidiary companies.

Importers of goods from free economic industrial zones are bound to declare their goods to the customs.

Tax payers are to pay the tax to Iran Customs Administration account, and the administration can obligate tax payers to pay the tax simultaneously while issuing bill to buyers or employees.