Economy, Domestic Economy
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IRICA Discontinues Upfront Import Tax Payment

IRICA Discontinues Upfront Import Tax Payment IRICA Discontinues Upfront Import Tax Payment

The import department of the Islamic Republic of Iran Customs Administration has announced that it has discontinued the requirement for licensed manufacturing enterprises making upfront tax payment for confirmed imported goods. A directive by IRICA in the fiscal 2016-17 required a 4% tax on confirmed imported goods before customs declaration to prevent tax evasion. According to Farhad Ehteshamzad, president of Iran’s Import Federation, the new directive is also applicable to imports of essential goods. The measure has apparently been taken for achieving this year’s national goal, “Support for Iranian Products”, and improving the competitiveness of local products, the Persian daily Donya-e-Eqtesad reported. 

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