A record high of 2,770 trillion rials ($10.8 billion) in tax revenues were collected over the 11-month period ending Feb. 19, indicating a 60% increase compared with the corresponding period of last year, the head of Iranian National Tax Administration said.
“Direct tax, including tax on legal entities, jobs and wealth tax, stood at 1,670 trillion rials [$6.51 billion], registering an over 56% growth. Tax on goods and services, which includes earnings from value added tax, totaled 1,100 trillion rials [$4.29 billion], showing a 68% increase year-on-year,” Davoud Manzour was also quoted as saying by Fars News Agency.
As per the new approach employed by INTA, whistleblowing on tax evaders and other tax violations would be incentivized. The whistleblowing guidelines were communicated to tax offices on Feb. 27. People can log on to www.intamedia.ir and report tax schemes and evasions, and receive a reward, he added.
A total of 1,925 trillion rials ($7.5 billion) in tax were collected in the last fiscal (March 2020-21), indicating a 37% increase compared with the year before.
Taxation of economic enterprises declined significantly in the fiscal 2020-21 due to the imposition of Covid-19 restrictions and repeated business shutdowns.
The government is looking to substantially increase its earnings from taxation in the next fiscal year (starting March 21).
It expects to earn 5,270 trillion rials ($20.54 billion) in tax revenues in the next fiscal year (March 2022-23) — about twice (95%) the projection of the current year. The target is part of the budget bill President Ebrahim Raisi submitted to the parliament on Dec. 12.
Notably, for the first time, the budget counts on taxing all expensive cars and homes.