EghtesadOnline: Taxing shareholders’ income from capital gains and levying tax on bank deposit income is not on the agenda of tax authorities, head of the Iranian National Tax Administration said.

EghtesadOnline: Deposits with Iranian banks and credit institutions have been rising over the past year to reach 23,493.9 trillion rials ($181.4 billion as per current exchange rates) by the end of sixth calendar month to September 22, according to Central Bank of Iran.

EghtesadOnline: Total deposits with banks and credit institutions reached 22,165 trillion rials ($195 billion) during the fourth month (June 22- July 22) of the current fiscal year indicating 26.9% annual growth.

EghtesadOnline: In need of new sources of revenue to compensate for the budget deficit emanating from steep declines in oil exports and reduce the ballooning liquidity, the idea of taxing bank deposits has come to the fore again, raising the possibility that the government may introduce the scheme in the 2020-21 fiscal budget.

EghtesadOnline: During the calendar month to June 22, total deposits with banks and credit institutions reached 21,765 trillion rials ($190.09 billion), up 26.6% year-on-year.

EghtesadOnline: The latest data on deposits with banks and credit institutions indicate that total deposits stood at 20,673 trillion rials ($159 billion) by the end of the previous fiscal year’s last month (March 20, 2019).

EghtesadOnline: Deposits in Iranian banks and credit institutions totaled 20,223 trillion rials ($155 billion) during the eleven-months to Feb 19, up 32% compared to the same period a year ago.