The Iranian government has envisioned 7,070 billion rials ($27.19 million) in revenues from taxation on luxury homes as per the budget bill for the next fiscal year (March 2021-22).
It has also estimated that vacancy tax (tax on empty homes) will earn 2,000 billion rials ($7.69 million), Mehr News Agency reported.
Notably, the government had included income from taxation of luxury homes and cars in the Budget Law for the current year (started March 20), but nearly nine months into the year, the executive bylaw of which (the decree stating measures for the enforcement of the law) has not been drafted yet.
Vice President for Parliamentary Affairs Hosseinali Amiri submitted the budget bill for the fiscal 2021-22 to the parliament on Wednesday. Unlike previous years, President Hassan Rouhani did not show up at the parliament for the budget day upon the advice of the National Coronavirus Headquarters.
In the next fiscal year (starting March 21, 2021), the operating budget (including revenues derived mainly from taxation and exports at the disposal of the government) has been projected to stand at 8,413 trillion rials ($33.65 billion at the free market exchange rate of 250,000 rials per dollar).
Add to this, revenues exclusive to ministries and governmental institutions worth 884 trillion rials ($3.53 billion), which takes the total sum of the general budget to 9,298 trillion rials ($37.19 billion).
The budget of state companies, banks and for-profit organizations has been put at 15,619 trillion rials ($62.47 billion).
All in all, the ceiling set for the government’s total budget is at 24,357 trillion rials ($97.42 billion).
