Iran VAT

EghtesadOnline: The Iran National Tax Administration earned about 580 trillion rials ($11.6 billion) from value added tax in the last fiscal year (ended March 20, 2018), registering a 20% rise compared with the year before.

EghtesadOnline: Lawmakers have decided to extend the pilot plan for enforcing the value added tax for the next fiscal year (starting March 21). In doing so, they have complied with the government’s proposed legislation, IRNA reported.

EghtesadOnline: Iran National Tax Administration earned 121 trillion rials (over $3.17 billion) from value added tax levied on fuel, vehicle registration, ownership transfer and import duties during the first four months of the current Iranian year (March 21-July 22), registering a 10% rise compared with the corresponding period of last year, INTA’s deputy head said.

EghtesadOnline: Annual production of gold in Iran has declined by two-thirds from 180 tons in the fiscal 2011-12 to 60 tons in 2016-17, mostly due to the 9% value added tax imposed on gold and jewelry sales and a change in people’s preferences, the head of Tehran Gold and Jewelry Union said.

EghtesadOnline: Exemptions granted to Astan Quds Razavi and its affiliated companies do not include withholding tax and value added tax, citing a decree by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei, the head of Iranian National Tax Administration, Kamel Taqavinejad, said.

EghtesadOnline: Legislators on Sunday extended the enforcement of value added tax for the upcoming fiscal year (starting March 21) and dropped the newly-proposed article narrowing the tax base to the final consumer.

EghtesadOnline: Chairman of Iranian National Tax Administration Seyyed Kamel Taqavinejad believes scuttling the value added tax and replacing it with consumption tax, as proposed by Majlis Joint Commission recently as part of the budget bill for the upcoming Iranian year (March 2017-18), would be a step backward for Iran’s taxation and fiscal systems.

EghtesadOnline: As per the sixth five-year development plan (2017-22), 30% of government revenues earned from value added tax will be used to shore up small- and medium-sized enterprises, according to the head of Iran’s Small Industries and Industrial Parks Organization, Ali Yazdani.

EghtesadOnline: Consumption tax will replace value added tax as of next year (March 2017-18) as per a motion proposed by the Majlis Joint Budget Commission.

EghtesadOnline: Over the past two years, as many as 4,200 gold and jewelry businesses have closed shops across the country, said a board member of Gold and Jewelry Employers’ Association of Tehran Province, Hossein Pendarvand.