Jul 30, 2023, 4:49 PM
News ID: 85184911
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Iran’s customs revenues up 205% y/y in March-July

Jul 30, 2023, 4:49 PM
News ID: 85184911
Iran’s customs revenues up 205% y/y in March-July

Tehran, IRNA - The Iranian Customs Administration (IRICA) has reported a remarkable surge in its revenues in the first four months of the current calendar year (to July 22), saying receipts reached 501.79 trillion rials, or equivalent of more than $1 billion, over the period.

The increase in Iran's customs revenues in March-July marks a 205% growth compared to the same period last year, according to the figures released by IRICA on Sunday.

Revenue collected from import tax, automobiles, mobile phones worth over $600 and 20 more income categories amounted to 220.38 trillion rials in the four months to July 22, said IRICA.

Earlier this week, Iran reported a major increase in tax revenues in the four months to late July with data released by the National Tax Administration showing that it receipts had witnessed a significant upswing over the period to reach $4.5 billion.

Economic experts view the surge in domestic revenue collections as a promising sign for Iran's economic outlook and believe it may pave the way for further growth. They say the steady increase in government revenues is expected to bolster key sectors and support development initiatives in the country at a time it faces the pressure of foreign sanctions on its oil revenues.

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