Annual tax revenues at $8.2bn: economy min.

MNA – According to Iranian Economy Minister Farhad Dejpasand up to 1.09 quadrillion rials (above $8.2 billion) of tax revenues were earned during the previous Iranian calendar year, 1397, (ended on March 20, 2019).

Underlining the necessity of reducing the country’s reliance on oil revenues via increasing dependence on tax income, he informed that in recent years, the government could earn up to 97 percent of the predicted tax income.

Based on previous reports, Iran had planned to earn 1.13 quadrillion rials (about $26.904 billion) of tax income in the past year.

As Head of Iran’s National Tax Administration (INTA) Mohammad-Qasem Panahi announced earlier, in the past year some 640 trillion rials (about $4.8 billion) of direct taxes were collected, showing that the planned figure has come true by 101 percent and also showing 15 percent growth year on year.

Panahi also put the revenues earned from taxes on the goods and services at 450 trillion rials (about $3.4 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 $8.7 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.