Economy, Domestic Economy
0

New Tax Rates for Tobacco, Cigarettes

New Tax Rates for Tobacco, CigarettesNew Tax Rates for Tobacco, Cigarettes

Members of the Iranian Parliament approved on Saturday cigarette and tobacco tax rates, as part of the sixth five-year development plan (2016-21). Based on the new law, the tax rate on locally-produced tobacco and cigarettes is set at 10%. The rate stands at 20% for local brands jointly produced by domestic and foreign manufacturers, 25% for domestically produced cigarettes with foreign brand names, and 40% for imported cigarettes and tobacco. The MPs also mandated the Ministry of Industries, Mining and Trade to announce the retail prices of cigarettes and all tobacco products to the relevant authorities for taxation purposes and for printing on cigarette packs, IRNA reported.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com