4-Month Income Tax Revenues at $1.4b
4-Month Income Tax Revenues at $1.4b

4-Month Income Tax Revenues at $1.4b

4-Month Income Tax Revenues at $1.4b

Figures by the Central Bank of Iran show the government earned 50.1 trillion rials ($1.4 billion at exchange market rates) from income tax revenues in the four months of the current Iranian year (started March 20), over one-third or $467.39 million of which were paid by civil servants.
Business owners paid 16.2 trillion rials ($453.4 million) and the employees of the private sector also paid 14.8 trillion ($414.21 million). The share of revenues from land tax was only 2.4 trillion rials (67.17 million), IRNA reported.  
The government had predicted a total of 140.7 trillion ($3.93 billion) in income tax revenues for this year and 47.8 trillion rials ($1.33 billion) for the four-month period. The income tax revenues exceeded the projections for the period.
Based on the projections, government revenues coming from wealth tax should be around $702.49 million during March 2016-17. This comes as around 8.3 trillion ($232.29 million) of which have been realized in the four-month period. The government also earned 107.8 trillion rials ($3.01 billion) from legal entities, which is lower than figure projected, which was 114 trillion rials ($3.19 billion) for the four-month period.
Direct tax revenues earned the government around 166.2 trillion rials ($4.65 billion) in the four-month period. The envisioned figure was 170.4 trillion rials ($4.76 billion).
The government has to generate 501.5 trillion rials ($14.03 billion) in direct tax income to cover part of this year’s budget.
The income gained from indirect tax revenues was 130.8 trillion rials ($3.66 billion), less than the projected figure of 182.4 trillion rials ($5.1 billion).
All in all, the government income from direct and indirect taxation stood at 297 trillion rials ($8.31 billion), whereas the envisioedn figure has been 352.7 trillion rials ($9.87 billion).
Earlier, Kamel Taqavinejad, director of Iran National Tax Administration, said the government’s tax revenues increased by 29% in the first four months of the current fiscal year compared with the same period of 2015 to stand at 275.7 trillion rials ($7.8 billion).
“The figures show nearly 95% of the budget’s projected income from taxes during the four-month period were realized,” he said.


Short URL : https://goo.gl/mVFj9P
  1. https://goo.gl/PpQRo9
  • https://goo.gl/lgCe5G
  • https://goo.gl/E2oeqr
  • https://goo.gl/OLcIqY
  • https://goo.gl/o84NLb

You can also read ...

European Gov’ts Exploring Financial Channels for Iran
The French, British and German governments have told Iran they...
EU to Protect Firms in Iran Following US Refusal to Grant Waivers
EU countries on Monday gave European firms legal cover to...
$312m Paid in Travel Currency in 3 Months
A total of $312 million were allocated by the Central Bank of...
Biggest Privatization Bid of the Year Set for July 31
Iranian Privatization Organization is scheduled to stage the...
Cuba Rolling  Out Mobile Internet Services
Cuba has started providing Internet on the mobile phones of...
IMIDRO Outlines Q1 Downstream, Upstream Steel Performance
A total of 11.22 million tons of iron ore concentrate was...
Iran, Ghana Sign Capital Market Deal
Capital market authorities from Iran and Ghana signed a...
Non-Oil Trade With China  Up 10%
Iran traded 7.38 million tons of non-oil commodities worth $5....

Add new comment

Read our comment policy before posting your viewpoints