48% increase in Iran's tax revenues | 48% increase in Iran's tax revenues -
Iran-Currency

48% increase in Iran’s tax revenues

: Thursday, August 28 - 2014 @ 09:19

Head of Iran’s tax organization, Ali Askari announced that Iran’s tax revenues stood at 230 trillion rials (some $7.4bn based on the exchange rate of USD at the free market) during the 5-month period from March 21. Ali Askari, said that the figure shows 48% increase compared to the same period of the preceding year, Iran’s IRNA News Agency reported on August 24. Iran’s fiscal year starts on March 21. Iran’s tax revenues (660 trillion rials or $21.29bn) account for 34% of the country’s total budget in the current fiscal year, which is 18 percent more than the previous year. However, Askari said last December that realization of the figure will be difficult considering the current taxation processes. “About 25% of the Iran’s overall economy does not pay taxes,” Askari said, adding that tax evasion is the main problem of the country’s taxation system.

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Thursday, August 28- 2014 @ 9:19 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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