Iran plans to increase tax revenues by 50% in new 2023-2024 fiscal year, according to the head of Fiscal Planning Center of the Iranian National Tax Administration.
Mehdi Movahedi said that the ceiling on tax revenues has increased from 4,540 trillion rials ($11.46 billion) in the current Iranian year’s (March 2021-22) budget to 6,800 trillion rials ($17.17 billion) in the next fiscal year’s.
Allaying concerns about a further increase in taxes on businesses and salespeople, he said “there will be no new tax bases or rise in tax rates”, IRIB News reported.
“A significant part of the 50% rise [in tax income] owes to high inflation, which is expected to remain above 40%,” he added.
Stressing that tax rates will remain the same as last year’s, the INTA official said efforts have been made to minimize pressure on production and key economic sectors.
“Tax incomes have a 50% share in funding the government’s expenditure. We plan to maintain this share in the year ahead,” he added.
Movahedi explained that INTA is looking to raise its income by collecting tax arrears and stemming tax evasions.