Iranian exporters expect VAT return

Business Materials 27 April 2020 10:09 (UTC +04:00)
Iranian exporters expect VAT return

TEHRAN, Iran, April 27

Iran's exporters are still waiting to receive the value added tax from the foreign currency revenues that returned to forex management integrated system NIMA in last Iranian year (from March 21, 2019 through March 20, 2020), said the head of Iran Export Confederation.

"The Central Bank of Iran (CBI) has not announced any instruction over lifting foreign currency revenue return commitment, so the Iranian National Tax Administration can not return the VAT to exporters," said Mohammad Lahouti, Trend reports citing ILNA.

"The situation has not changed, despite various meetings over the issue in past two months. A number of suggestions were made to CBI, but they were not accepted by the private sector, the Customs Administration and the Ministry of Industry, Mine and Trade," Lahouti added.

"The Central Bank of Iran eventually agreed on the conditions for foreign currency revenue return for last Iranian year to remain the same as previous fiscal year of 2018, but no instructions have been announced so far," he said.

"The government has approved the return of value added tax to exporters as part of incentives and tax exemption for exporters that returned foreign currency revenue. However, as the Central Bank has not confirmed the foreign currency return, the Iranian National Tax Administration can not pay the VAT back," he added.