Iran’s revenue from tax increased by 7.7 %
Baku, Azerbaijan, March 14
By Khalid Kazimov - Trend:
Iran's income from taxes collected between March 2015 and January 2016 has increased by 7.7 percent year-on-year, a recent report by the Central Bank of Iran (CBI) suggests.
In the mentioned period the government's income from direct and indirect taxes surpassed $19 billion, Fars new agency reported.
According to the budget bill the government was expected to collect 29 billion from tax in the mentioned period.
In its budget plan for Iranian year of 1394 (21 March 2015-2016) the government considered 750 trillion rials (one dollar makes 30.220 rial according to the country's central bank) revenue from taxes. Meanwhile the Iranian government has plans to increase the figure to 850 trillion rials for the next fiscal year starting March 21.
The country collected 366 trillion rials in the first seven months of the current Iranian fiscal year (March 21-Oct. 22).
While tax evasion is considered as a main problem in the country, Minister of Economic Affairs and Finance Ali Tayyebnia suggests that 43 percent of Iranian people, entities, institutions or organizations who produce goods and services are excluded from paying taxes.
According to the World Bank Iran is the second largest economy in the Middle East and North Africa (MENA) region after Saudi Arabia, with an estimated Gross Domestic Product (GDP) in 2014 of $ 406.3 billion.