Economy, Domestic Economy

Iran's Income Tax Exemption Determined

Iran's Income Tax Exemption DeterminedIran's Income Tax Exemption Determined

As decided by Majlis Joint Commission last week, Iranians with an annual income of less than 240 million rials ($6,220) will be exempt from paying income tax in the next Iranian year (March 2017-18), the commission’s spokesman said. “The government bill for the next year’s budget had initially suggested that the threshold be 180 million rials ($4,665) per year,” Mohammad Mehdi Mofatteh was also quoted as saying by IRNA.

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