15% Rise in Cosmetic Import Duties

EghtesadOnline: The government has envisioned a 15% rise in customs duties on the import of cosmetics as per the budget bill for the next fiscal year (March 2021-22).

News ID: ۷۵۱۶۶۱

07 December 2020

Revenues from this increase will be allocated to the procurement of prostheses and cochlear implants, as well as costs related to the treatment and medicines of autism, Gaucher's disease, celiac disease, metabolic disorder, epidermolysis bullosa, cystic fibrosis, immunity disorders and spinal muscular atrophy.

Vice President for Parliamentary Affairs Hosseinali Amiri submitted the budget bill for the next fiscal year (March 2021-22) to the parliament on Wednesday. Unlike previous years, President Hassan Rouhani did not show up at the parliament for submitting the budget upon the advice of the National Coronavirus Headquarters.

In the next fiscal year (starting March 21, 2021), the operating budget (including revenues derived mainly from taxation and exports at the disposal of the government) has been projected to stand at 8,413 trillion rials ($33.65 billion at the market exchange rate of 250,000 rials per US dollar).

Add to this, revenues for ministries and governmental institutions worth 884 trillion rials ($3.53 billion), which takes the total sum of the general budget to 9,298 trillion rials ($37.19 billion).

The budget of state companies, banks and for-profit organizations has been put at 15,619 trillion rials ($62.47 billion).

The ceiling for the government’s total budget is at 24,357 trillion rials ($97.42 billion).