Iran’s predicted import revenues materialized by only 45%

Business Materials 15 October 2017 12:14 (UTC +04:00)

Baku, Azerbaijan, Oct. 15

By Fatih Karimov – Trend:

The Iranian government’s revenues through imports reached 33,600 billion rials (each USD makes 34,180 rials) during the first five months of the current fiscal year (started March 20), 15.7 percent more year-on-year.

However the predicted import tax revenues in budget for the same time span was 73,800 billion rials, which indicates that the forecasted incomes is materialized by only 45 percent, the country’s Central Bank reported.

Iran imported $19.442 billion worth of goods during the 5-month period, which indicates 16.5 percent rise in terms of value, compared to the same period of preceding year.

Iran’s budget foresees 173,800 billion rials of revenues through import taxes for current fiscal year (to be ended March 2018).

The Iranian government’s revenues through car import registered a fall by 46.2 percent during the first five months of current fiscal year (March 20-Aug. 22).

Meanwhile the country’s car imports during the same period witnessed a rise by 43 percent. Iran imported 38,000 cars, worth $1.042 billion, during the first five months of the current fiscal year.
The government revenues of car import taxes stood at 1,100 billion rials, which is significantly below the forecasted figure.

Only 8 percent of the envisaged revenues via car imports (13,700 billion rials) have been realized during the 5-month period, according to the CBI.

Iran’s total tax revenues amounted to 367.5 trillion rials in the period, 3.2 percent more year-on-year.
Iranian administration earned 197.1 trillion rials of direct and 170.4 trillion rials of indirect taxes during the first five months of current fiscal year.

The country’s revenue from taxes is projected to hit 1,164.6 trillion rials by March 2018, according to the current year budget.