Iran’s tax income rises, but below expectations

Business Materials 12 September 2018 14:16 (UTC +04:00)

Baku, Azerbaijan, Sept. 12

By Umid Niayesh - Trend:

Iran’s tax revenues amounted to 348.8 trillion rials in the first four months of the current fiscal year, started March 20, 2018.

Each USD makes 42,000 rials based on official rate.

The revenues registered a rise by 17.5 percent year-on-year, the Central Bank of Iran (CBI) said.

Over 72 percent of the tax revenues envisaged by the national budget bill (482.7 trillion rials) for the four months have been realized.

Iran’s tax revenues amounted to 1,158.4 trillion rials in the last fiscal year, 14.2 percent more year-on-year.

The envisaged tax revenues by the national budget bill for the last fiscal year was 1,164.6 trillion rials, meanwhile the figure for the current fiscal year (to end March 2019) has increased to 1,420.8 trillion rials.

Iranian administration received 152.4 trillion rials from direct taxes in the 4-month period, 4.6 percent less year-on-year.

Meanwhile the figure was 196.4 trillion rials for indirect taxes, registering a 43.2 percent rise compared to the preceding year.

The envisaged budget revenues for direct and indirect taxes for the first four months of the current fiscal year were 215.8 trillion rials and 266.9 trillion rials, respectively.

The Iranian government is expected to earn 635.2 trillion rials via direct and 785.6 trillion rials through indirect taxes during the current fiscal year, based on the budget law.

The Iranian government’s revenues through imports reached 50 trillion rials in the 4-month period, 98.3 percent more year-on-year.

The predicted import tax revenues in the budget for the same span of time was 99.2 trillion rials, which means the predicted revenues have materialized by 50 percent.

The government’s revenue through car imports stood at 8.4 trillion rials during the period compared to 0.9 trillion rials in the first four months of the preceding fiscal year.

The government revenues of car import taxes was below the forecasted figure for the 4-month period (14.3 trillion rials).