Domestic Economy

Budgetary Inflation Imperative

The change in the basis of VAT calculation for imports will be one of the causes of inflation next year, in addition to the increase in fuel price projected in the budget will for industries
Budgetary Inflation Imperative
Budgetary Inflation Imperative

The 70% increase in value added tax, the change in its calculation basis for imports and the rise in fuel prices for industries have inflated the fiscal 2022-23 budget, said the head of the Research Center of Iran Chamber of Commerce, Industries, Mines and Agriculture. 
President Ebrahim Raisi submitted the fiscal 2022-23 budget bill to parliament on Dec. 12 and the Iranian Parliament approved the bill’s outlines on Sunday. 
The Majlis Joint Commission examining the budget’s details is a parliamentary body responsible for reviewing the budget bill as well as five-year development plans proposed by the government before it is put to a legislative vote.


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