Annual plan for tax income realized by 97%

Tehran Times – Iran managed to collect 1.09 quadrillion rials (about $25.952 billion) of tax revenues during the past Iranian calendar year of 1397 (ended on March 20, 2019), showing that the country’s annual tax income plan has come true by 97 percent, according to the acting head of Iran’s National Tax Administration (INTA).

Mohammad-Qasem Panahi said the country had planned to earn 1.13 quadrillion rials (about $26.904 billion) of tax incomes in the past year, IRNA reported.

The official further put direct taxes collected in the past year at 640 trillion rials (about $15.238 billion), showing that the planned figure has come true by 101 percent and also showing 15 percent growth year on year.

He also put the revenues earned from taxes on the goods and services at 450 trillion rials (about $10.714 billion), indicating that the planned figure has been materialized by 91 percent and also showing 11 percent rise year on year.

As announced by the Central Bank of Iran (CBI), Iran’s tax income rose 14.1 percent during Iranian calendar year of 1396 (ended on March 20, 2018) to reach 1.15 quadrillion rials (about $27.38 billion).

The Iranian government earns budget from various sources including the revenues and offering capital assets and divesting financial assets to the private sector.

President Hassan Rouhani’s economic strategy is to significantly reduce the government’s dependency on oil and instead collect tax more systematically.

Speaking in the inaugural ceremony of the 12th edition of Iran’s Conference of Tax and Fiscal Policies, which was held at Shahid Beheshti University’s conference center in Tehran on late February, the event’s Secretary Yadollah Dadgar mentioned the small share of taxes in Iran’s annual budget saying that according to the latest statistics, the share of taxes in the country’s budget is only nine percent while in most other countries this share is more than 17 percent.

In the 17.03 quadrillion rials (about $405 billion at the official rate of 42,000 rials) budget bill for Iran’s current Iranian year, oil income is estimated at 1.425 quadrillion rials (about $34 billion) with 410 trillion rials (about $9.7 billion) rise year on year and tax income is projected to be 1.53 quadrillion rials (about $36.5 billion).