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Iran’s tax revenue up 50% y/y in March-July to $4.5 bn

Iran’s tax revenue reached some $4.5 billion in the four months to late July.

Iran’s tax revenues reached the equivalent of $4.5 billion in the four months to July 22, an increase of 50% compared to the same period last year, according to figures by the Iranian National Tax Administration (IRICA).  

IRICA figures covered in a Thursday report by the Fars news agency showed that Iran’s tax revenues had reached a total of 2,162.99 trillion rials in March-July, up from 1,438.88 trillion rials reported in the same period in 2022.

The report said direct tax had accounted for over 1,330 trillion (61.5%) of Iran’s tax revenues in the four months to late July.

It said IRICA’s direct tax income was 10% short of a four-month target set in Iran’s current year budget law, adding that direct tax receipts had increased by 50% year on year in the March-July period.

Corporate tax revenues reached over 810 trillion rials in Iran in the four months to late July, up 41% against the same period last year, showed the figures. 

Tax on wealth, a category where Iran has sought to earn more revenues in recent years, rose by 88% year on year in March-July to reach over 100 trillion rials, IRICA said.

Iran has set a target to collect 7,490 trillion rials (nearly $15.5 billion) in tax revenues in the calendar year to March 19, 2024.

That comes as the country has introduced measures in recent years to crack down on tax evasion as part of plans to rely more on domestic resources of the economy and to offset the impacts of US sanctions.

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