Iran's NIGC may get new income sources, thanks to new budget bill
Tehran, Iran, Dec.26
For the first time, Iran's government budget bill has allocated new income sources for the National Iranian Gas Company (NIGC) from the gas exports revenues, Trend reports, referring to Iran's budget bill which Iranian President Hassan Rouhani submitted to Parliament for the forthcoming Iranian year (covering March 2019-2020).
Unlike the previous annual budget laws, for the first time the next year (Mach 21, 2019) budget bill allocates 14.5 percent income from gas exports to the company, alongside zero tax exemptions.
The government budget law has also allocated a 20-percent share from the oil and gas exports revenues to the National Development Fund.
Therefore the Central Bank of Iran is required to monthly pay 14.5 percent of the crude oil and gas condensate exports revenues to the National Iranian Gas Company.
If the parliament approves the bill, for the first time the National Iranian Gas Company would have new income sources.