Iran imported 19.24 metric tons (mt) of gold ingots worth $1.228 billion in the first nine months of the current Iranian calendar year (March 21 – December 21).
The gold ingots were the 8th main item imported into Iran in the period under review, according to the Islamic Republic of Iran Customs Administration (IRICA).
An IRICA report said in October that Iran’s imports of gold ingots would be exempted from tax payment as of October 23.
The report said that the scheme would be executed based on an order by the head of Iran National Tax Administration (INTA) Mohammad-Hadi Sobhanian in accordance with a law on direct taxes.
Sobhanian has argued that the exemption is necessary due to repeated calls by the importers of gold ingots and taking the arbitrary sanctions on the country into consideration.