Economy, Business And Markets

VAT Revenues Top $3 Billion in Four Months

VAT Revenues Top $3 Billion in Four MonthsVAT Revenues Top $3 Billion in Four Months

Iran National Tax Administration earned 121 trillion rials (over $3.17 billion) from value added tax levied on fuel, vehicle registration, ownership transfer and import duties during the first four months of the current Iranian year (March 21-July 22), registering a 10% rise compared with the corresponding period of last year, INTA’s deputy head said.

Mohammad Masihi also told IRNA that the revenue met 92% of INTA’s goals for the period under review.

Last month, INTA’s chief said the administration’s fight against tax evasion led to the reimbursement of over 50 trillion rials ($1.33 billion) in tax revenues in the last fiscal year (March 2016-17).

“Over 300,000 new taxpayers and 3,000 front companies were identified across the country over the past year and about 33 trillion rials ($880 million) of their suspicious banking transactions were identified,” Kamel Taqavinejad was also quoted as saying.

According to the official, currently, fewer than 20% of taxpayers in Iran pay 80% of all taxes.

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