Iran’s annual tax income seen to hit $18.1b

Iran’s tax revenues are forecasted to amount to 450.8 trillion rials (about $18.1 billion) in the current Iranian calendar year, which began on March 21, up 35 percent year on year, Iran’s Tax Affairs Organization director said on Wednesday.

Value-added tax incomes account for a large share of the rise in tax revenues IRNA quoted Ali Askari as saying.

Value-added tax incomes and charges are forecasted to hit 190 trillion rials, he noted.

Iran gained as much as 280 trillion rials (some $11.3 billion) in tax incomes in the past calendar year.

Iran offers one hundred percent tax exemption for an unlimited period of time to foreign investment in the agriculture sector, the Iranian deputy economy minister Behrouz Alishiri said.

Tax exemption up to 80 percent are being offered to investments in the industry and mine sector, he said, adding that the figure will be one hundred percent for a period of ten years in underdeveloped areas, IRIB quoted Alishiri as saying on Saturday.

Tax exemptions in free trade zones will be extended for 20 years, he added.

By Albawaba


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