Iran’s direct tax income hits 49% to $15.312b

Iran's Head of State Tax Department Ali Askari,

Iran’s Head of State Tax Department Ali Askari,

TEHRAN: Director of Iranian National Tax Administration, Ali Askari, said that Iran’s direct tax income rose 49 percent to $15.312 billion (520 trillion rials) during the first eleven months of the current Iranian calendar year (March 21, 2014- February 19, 2015).

In December 2014, Askari said Iran’s direct tax income is forecast to reach 720 trillion rials (about $21.201 billion) by the end of the current Iranian calendar year.

The national budget bill for Iranian calendar year 1394 (March 2015-March 2016) has envisaged tax income of around 870 trillion rials (about $25.618 billion).

In June 2014, Iranian Finance and Economic Affairs Minister Ali Tayyebnia said Iran’s economy is heavily dependent on oil revenues, which accounts for about 70 percent of the national budget in the current Iranian calendar year.

However, the government is determined to reduce dependence on oil through improving the tax system and the boosting of economic activities, he added.

By Customs Today