Annual plan for tax income realized by 107%

mahla — Sun, 11 Apr 2021 11:11:41 +0000

TEHRAN (Iran News) – Iran managed to collect 1.92 quadrillion rials (about $45.7 billion) of tax revenues during the past Iranian calendar year of 1399 (ended on March 20), showing that the country’s annual tax income plan has come true by 107 percent, according to Finance and Economic Affairs Minister Farhad Dejpasand.

Dejpasand noted that tax revenues accounted for 84 percent of the total funding made in various sectors in the previous year, ILNA reported.

According to the official, over 100 trillion rials (about $2.38 billion) of deferred taxes were also collected in the previous Iranian calendar year.

He further noted that some 2.08 quadrillion rials (over $49.5 billion) worth of various bonds were also issued last year, the revenues of which were used to offset the year’s budget deficit.

According to the head of Iran’s National Tax Administration (INTA) Omid-Ali Parsa, Iran’s tax revenue increased 31 percent in the Iranian calendar year 1398 (ended on March 19, 2020).

Putting the country’s tax income at 1.43 quadrillion rials (about $34.04 billion) in the mentioned year, the official said, “We managed to collect 250 trillion rials (about $5.9 billion) as value-added tax (VAT)”.

“One of the most important achievements of the Ministry of Finance and Economic Affairs in recent years has been the smartening of the tax system, the most important outcome of which has been the complete realization of the tax income plan,” Parsa has said.

The country also managed to collect 1.09 quadrillion rials (about $25.952 billion) of tax revenues during the Iranian calendar year of 1397 (ended on March 20, 2019), showing that the country’s annual tax income plan came true by 97 percent.

The realization of tax income plans in recent years has taken place in the condition that the country is facing severe economic sanctions.

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Iran annual tax revenues can be $20 billion

reporter 1222 — Sat, 25 Jan 2020 08:39:26 +0000

TEHRAN (Iran News) – An Iranian economist said the country can count on a maximum of $20 billion in annual tax revenues despite claims that the government would fail to pocket around $14 billion worth of taxes to finance its budget in the next Iranian calendar year beginning on March 20.

“Iran’s tax capacity is much higher than the tax revenues (currently) earned and this government is facing no problem with regards to tax collection,” said Ehsan Khandouzi, an economics lecturer at Tehran’s Allameh Tabatabaei University.

The comments, made at a Thursday interview with ILNA, comes despite suspicions raised by other experts who say the government would miss a target of more than $14 billion in tax revenues introduced in a draft budget for the next calendar year.

The draft, touted by the government as the first in Iran’s recent history to rely on resources other than oil revenues, is currently being debated in Parliament.

Critics say targets introduced for tax collection schemes in the 2020-21 Iranian budget are unrealistic and the government should come up with other solutions to offset the impacts of American sanctions on its direct sale of crude oil.

Khandouzi said, however, that the 1,750 trillion rials that the Iranian government seeks to raise from tax next year would be “receivable”.

“The figure included in the … budget is absolutely not difficult to reach and it is even lower than the country’s tax collection potential,” he said.

The economist said the government needed to tighten its rules for fighting tax avoidance while trying to remove unnecessary exemptions or reliefs given to certain taxpayers.

A report in early December showed that the government had received 780 trillion rials (nearly $6 billion) in tax revenues in the first seven months of the current Iranian calendar year.

Iran total annual tax revenues for the year ending March 19 is expected to reach more than $11 billion, said the report.

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Annual plan for tax income realized by 107%

Iran annual tax revenues can be $20 billion