Economy, Domestic Economy

Tehran Accounts for 42% of H1 Tax Revenues

Tehran Accounts for 42% of H1 Tax Revenues
Tehran Accounts for 42% of H1 Tax Revenues

Tax revenues collected from Tehran Province stood at 174 trillion rials ($4.14 billion) in the first half of the current year (March 21-Sept. 22, 2017), indicating a 42% rise compared with the same period of last year. This comes as Iran’s overall tax revenues during the period stood at 431.2 trillion rials ($10.26 billion), registering a 0.4% decline year-on-year.

As such, Tehran accounted for 40.3% of the overall tax proceeds in H1, up from last year’s same period of 28.2%, according to a report by Tehran Chamber of Commerce, Industries, Mines and Agriculture.

The report, which draws on Central Bank of Iran data as well was those by Tehran Tax Administration shows main factor stimulating the rise in Tehran’s tax revenues in H1 was the 2.7-fold rise in corporate tax compared with the same period of last year, hovering around 53 trillion rials ($1.26 billion).

Value added tax collected in Tehran also made up 41.3% of the total revenues to stand at 61 trillion rials ($1.45 billion), registering an 18.8% rise YOY.

Samiollah Hosseini Makarem, economic deputy of Tehran mayor, says taxes worth 160 trillion rials ($3.79 billion) are collected from Tehran Province annually, of which the city of Tehran’s share stands at 20 trillion rials ($474 million) in the fiscal 2017-18.

“The share is dwarfed by last year’s $948 million,” he was quoted as saying earlier this month.

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