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Sanction-proof budget

File photo of Iran’s President Hassan Rouhani (L) submitting the draft budget bill to Majlis (Parliament) Speaker Ali Larijani

The draft budget bill for the Iranian new year beginning March 20, 2020 is called the anti-sanctions resistance bill.

Iranian President submitted next year's budget bill to the Parliament while many experts, including some of the parliamentarians believe that the numbers put in the bill are far from reality such as the oil revenues.

The current administration in Iran drew up the next year's budget bill draft and handed it to the parliament. It’s to cut down on the country’s oil dependency but put whatever oil income Iran does generate, into construction.

Taxation is one way to compensate for the shortage of the oil share in the budget. There has been an attempt to eliminate most of the tax exemptions in the VAT law. We also have a series of tax evasions where the administration is trying to raise the tax base instead of tax rates.

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