Gov’t Tightens Export Rules
The government announced limits on the amount of export by owners of new commercial cards. The decision was approved by the Cabinet earlier in the month and sent to relevant administrative bodies on Thursday.
Accordingly, exporters who got their commercial cards recently can export not more than $500,000 during the first year of their activity.
Likewise, new export companies will be able to export goods worth $2 million in the second year, IBENA reported. Manufacturing units that export are exempt from such limits.
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The government announced limits on the amount of export by owners of new commercial cards. The decision was approved by the Cabinet earlier in the month and sent to relevant administrative bodies on Thursday.
Accordingly, exporters who got their commercial cards recently can export not more than $500,000 during the first year of their activity.
Likewise, new export companies will be able to export goods worth $2 million in the second year, IBENA reported. Manufacturing units that export are exempt from such limits.
bit.ly/2FqJbwH
@fintribune
Tehran Province Accounts for 56% of Iran’s Tax Revenues
Tehran Province is expected to earn 1,000 trillion rials ($4.47 billion) of the total 1,800 trillion rials ($8.05 billion) of tax revenues projected for the current fiscal year (March 2020-21), says Mohammad Reza Nouri, the head of Tehran Tax Office.
“By materializing 106% of tax revenues set in the last fiscal year’s budget, Tehran Province accounted for 56% of the country’s total tax income of 1,410 trillion rials $6.3 billion, i.e. 800 trillion rials $3.57 billion. This is while taxpayers were grappling with the coronavirus crisis and sanctions,” he was quoted as saying by IRNA.
Tax rates will increase by 28% on average in the current fiscal year (March 2019-20), the head of Iran's National Tax Administration, Omid Ali Parsa, said recently.
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@fintribune
Tehran Province is expected to earn 1,000 trillion rials ($4.47 billion) of the total 1,800 trillion rials ($8.05 billion) of tax revenues projected for the current fiscal year (March 2020-21), says Mohammad Reza Nouri, the head of Tehran Tax Office.
“By materializing 106% of tax revenues set in the last fiscal year’s budget, Tehran Province accounted for 56% of the country’s total tax income of 1,410 trillion rials $6.3 billion, i.e. 800 trillion rials $3.57 billion. This is while taxpayers were grappling with the coronavirus crisis and sanctions,” he was quoted as saying by IRNA.
Tax rates will increase by 28% on average in the current fiscal year (March 2019-20), the head of Iran's National Tax Administration, Omid Ali Parsa, said recently.
bit.ly/2CsdTEx
@fintribune
Tehran Shares Decline for 4th Day
Tehran stocks experienced one of the biggest downturns at the start of trading week on Saturday extending a losing streak into the fourth day.
The main index of Tehran Stock Exchange, TEDPIX, lost 72,180 points and fell 3.65%, the highest since the past five months. TEDPIX closed session at 1,903,259 points.
TSE has lost 8.4% of its gains and more than 6,500 trillion rials ($30 billion) of market capitalization in four consecutive sessions of bear market, according to market data from the Tehran Securities Exchange Technology Management Company.
financialtribune.com/node/104836
@fintribune
Tehran stocks experienced one of the biggest downturns at the start of trading week on Saturday extending a losing streak into the fourth day.
The main index of Tehran Stock Exchange, TEDPIX, lost 72,180 points and fell 3.65%, the highest since the past five months. TEDPIX closed session at 1,903,259 points.
TSE has lost 8.4% of its gains and more than 6,500 trillion rials ($30 billion) of market capitalization in four consecutive sessions of bear market, according to market data from the Tehran Securities Exchange Technology Management Company.
financialtribune.com/node/104836
@fintribune