The Iranian National Tax Administration collected 366 trillion rials (about $8.57 billion) in tax during the first five months of the current Iranian calendar year (March 21-July 22, 2018), up 10 percent year on year. According to the administration’s head, Seyed Kamel Taqavinejad, more than 190 trillion rials (over $4.5 billion) was collected as direct […]

 Iran is expected to export $1.5 billion worth of medical herbs each year by March 2021, Irannewsdaily Rported quoting an official with the Ministry of Agriculture. Hossein Zeynali, the ministry’s medical plants project manager, said exports of medical herbs stood at $450 million last [Iranian calendar] year (which ended on March 20). “Some $150 million […]

 Iran exported over 3.107 million tons of steel products during the five-month period from March 21 to July 21, an increase of five percent from the same time span last year. Meanwhile, the country’s nine major steel companies exported 483,510 tons of steel products during the mentioned period, down 24 percent from last year’s figure, […]

 Turkey has proposed establishing a joint bank with Iran for facilitating trade between the two countries, IRNA reported citing an article published in the Turkish newspaper “Dünya”. “Establishing a joint bank through which the two sides could conduct bilateral trade and businesses without the need for U.S. dollar would be the final step for developing […]

The government will start levying taxes on business owners’ transactions processed through point-of-sale devices to combat tax evasion, the head of Iran National Tax Administration announced. “Considering the need to organize POS devices active inside and outside Iran and create a framework for them to prevent tax evasion and reduce dubious bank transactions, a coalition […]

China-Pakistan Economic Corridor (CPEC) is grabbing headlines for all the good and bad reasons. U.S. opposition to it is known to all and sundry because of the escalating trade war between Washington and Beijing. Now India has also raised concerns over the ambitious project, asserting that it violates India’s sovereignty and territorial integrity. India raised […]

IFX, the main index of Iran’s over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), hit a record high of 1,771 points on Friday, gaining 62 percent since the beginning of the current Iranian calendar year (March 21), IRIB reported. The IFB benchmark index has gained 14 percent since the beginning of the sixth […]

Some 110 trillion rials (nearly $2.6 billion) worth of mining projects are scheduled to be inaugurated by the end of the current Iranian calendar year (March 20, 2019). The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has already completed $2.2 billion worth of mining projects during the previous Iranian calendar year (March […]

Iran’s nine major steel companies produced over 7.85 million tons of steel ingots during the first five months of the current Iranian calendar year (March 21-July 21), up 15 percent from last year’s same period. The country’s steel ingot output stood at 21.8 million tons, of which over 6 million tons were exported to the […]

Iran’s OPEC governor Hossein Kazempour Ardebili has said the country’s rival producers cannot make up for the shortfall resulted from a complete halt in Iranian oil exports, Reuters reported on Friday. According to the official, U.S. cannot reach its zero export target since the oil market is already tight and “There is no spare capacity […]