In an exclusive interview with IRNA, Mohammad Rezvanifar, head of the Islamic Republic of Iran Customs Administration, said that based on a bill that the administration had submitted to the parliament and was later approved by the lawmakers, the value-added tax on basic goods has been reduced from 9% to 1%.
Under the bill, passed by cabinet ministers on June 11, 2023, more than 350 products experienced their lowest commercial profits, or even reached zero-profit condition, he said.
Rezvanifar noted that by reducing those profits, the administration has forfeited over $1.2 bn of its annual revenues in favor of the people.
This is while, he continued, the total amount of customs revenues since the beginning of this year (starting on March 21) until August 11 has reached some $1.2 bn (590 trillion rials), showing a 90% increase compared to the same period last year.
Since taking office, the administration of President Ebrahim Raisi has pursued a policy of “neutralizing” the impact of sanctions on the Iranian people.
The US slapped what it calls “maximum pressure” sanctions on Iran after unilaterally pulling out of the Iran nuclear agreement in May 2018.
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