Economy, Domestic Economy

Tax Exemption for Low Earners

Tax Exemption for Low EarnersTax Exemption for Low Earners

As per the new budget bill submitted to the parliament by the government, those who are making less than 15 million rials ($384 at market exchange rate) a month, will be exempt from paying income tax in the next fiscal year (March 2017-18). The bill assumes larger revenues from taxes, which are projected to rise 1,130 trillion rials, up from last year’s figure of 1,010 trillion rials. The parliament is scheduled to finalize the proposed budget by February 2017, Mehr News Agency reported 

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