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Tax

  • EghtesadOnline: Revenues collected from the taxation of empty homes will be injected in the National Housing Fund to be extended as loans to low-income households.

  • EghtesadOnline: A total of 1,925 trillion rials ($7.62 billion) in tax were collected in the last fiscal year (March 2020-21), indicating a 37% increase compared with the year before.

  • EghtesadOnline: Finding new tax bases is one of the parliament’s key tools to tackle budget deficit in the next fiscal year (starting March 21).

  • EghtesadOnline: Zero percent tax on goods and services export will only be extended on condition that traders fully repatriate their export proceeds between March 2019-21 as per the regulations set by the Central Bank of Iran.

  • EghtesadOnline: Majlis Joint Commission, a parliamentary body responsible for reviewing the budget bill as well as the five-year economic development plans, has put forth a bill that would reduce tax on production from 25% to 20%.

  • EghtesadOnline: Following plans to streamline the underperforming tax regime, the Central Bank of Iran has announced new restrictions on the use of point-of-sale (POS) terminals.

  • EghtesadOnline: Self-declaration of tax by guilds accounts for 70% of the government’s tax revenues, a deputy head of Iranian National Tax Administration said, adding that plans are to increase the figure to 90% in two years.

  • EghtesadOnline: The ratio of tax revenues government gained in the last fiscal year (March 2019-20) to GDP (when current prices are used) stood at 4.2%.

  • EghtesadOnline: The law to tax transactions conducted via point-of-sale (POS) machines will come into force from the next calendar month starting Jan. 20, the Central Bank of Iran vice governor for IT affairs said.

  • EghtesadOnline: The Guardians Council–a watchdog that ensures laws are in line with the Iranian Constitution and Islamic law—has approved the parliament’s bill on revisions to Article 54 of Direct Tax Code, i.e., vacancy tax.