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Deferred taxes in Iran hit $4.4B

Business Materials 1 February 2015 12:30 (UTC +04:00)

Baku, Azerbaijan, Feb. 1

By Umid Niayesh - Trend:

The amount of deferred taxes in Iran stood at 120 trillion rials (about $4.4 billion based on official rate of 27,500/USD) during the first ten months of the current Iranian fiscal year (March 21, 2014-Jan. 21).

Some of the deferred taxes can be received, meanwhile some parts are completely inaccessible, head of Iran's tax organization, Ali Askari said, the country's Fars news agency reported on Feb. 1.

"Iran's tax revenues stood at 480 trillion rials (some $17.5 billion) during the 10-month period, which indicates a 52 percent rise compared to the same period of the preceding year," Askari said.

He added that the predicted tax revenues have been materialized by 96 percent during the mentioned period.

The income via direct taxes was about 292 trillion rials (about $10.6 billion) during the period, the official said, adding that the figure indicate a 37 percent rise compared to the same period of last year.

"Forecasted direct taxes have been materialized by 97 percent in the 10-month period," Askari said.

"The country's income through goods and services tax (including value-added tax (VAT) as well) also stood at about 190 trillion rials (approximately $6.9 billion) during the mentioned period, 81 percent more year on year," he added.

Iran's tax revenues (660 trillion rials or $24 billion) account for 34 percent of the country's total budget in the current fiscal year (started on March 21, 2014), which is 18 percent more than the previous year.

Tax revenues will account for 870 trillion rials of the country's total budget in the next fiscal year (it will start on March 20, 2015).

Earlier, Askari said that about 25 percent of the Iran's overall economy does not pay taxes.

Follow the author on Twitter: @UmidNiayesh

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