Budget bill to include development, employment, subsidy plans

Head of Iran’s Planning and Budget Organization (PBO) said that three biennial plans on development, subsidies and employment will be attached to the national budget bill for the next Iranian calendar year of 1399 (begins on March 20, 2020) to be submitted to the parliament.

Mohammad Baqer Nobakht also announced that a biennial budget bill has been decided to be prepared for the next year in a way that the incomes and expenditures will be envisaged for both years of 1399 and 1400, IRIB reported on Monday.

In this bill oil revenues will not be used for any expenditure, and as they are generated from selling the country’s capital assets they will be spent on augmenting capital assets through development projects, he noted.

Earlier this month, the official had said that the revenues gained from elimination of hidden energy subsidies as well as increased tax incomes will replace oil revenues in the next year’s budget bill.

“This does not mean a rise in tax income; but by setting new tax bases and eliminating unnecessary exemptions at a time of economic warfare, more tax revenues will be provided,” he explained.

Back in September, Nobakht had announced that the government was going to submit the budget bill for the next Iranian calendar year to the parliament on December 6 as scheduled.

According to the official, this year, PBO has decided to send the information about the state-owned companies’ budget to the Majlis (Iranian parliament) a month earlier so that the parliament would have enough time to review it.

The members of the budget preparation committee at PBO are seriously working on the bill and while the views may differ in some areas, the consensus among all members will be the base for the final decision making, Nobakht said.

News No: 6917
Date: 2019/10/21 - 21:51
News Source: Tehran Times

PBO  tax  Budget bill  Mohammad Baqer Nobakht 


Leave a Comment:


Zahedan-Chabahar railway’s 2 sections to be completed by next 10 months

Head of Iran’s Budget and Planning Organization (BPO) announced that two sections of Zahedan-Chabahar railway are going to be completed by the end of the current Iranian calendar year (March 20, 2021).

17% Rise in Departure Tax Revenues

Revenues from departure tax, which is a subcategory of tax on goods and services of indirect taxes, stood at 11,500 billion rials ($67.25 million) in the fiscal 2019-20.

Egypt likely to impose extra steel import tax

The Egyptian government is expected to approve an additional 10pc duty on steel imports, which could have ramifications for the CIS, Turkey and Europe.

Taxman Extends Deadline for POS Registration

The Iranian National Tax Administration has extended the deadline for the mandatory use of point of sale machines by 15 guilds to Sept. 21 due to the coronavirus, INTA Chief Omid Ali Parsa said.

Majlis releases draft of revised budget bill for next year

Iranian parliament’s ad hoc budget review committee has released the revised version of the administration’s budget bill for the next Iranian calendar year (starting March 20), after the Leader of Islamic Revolution Ayatollah Ali Khamenei approved the parliament’s request for taking necessary actions on the matter.

Commission Approves Income Tax Exemption Rates

The Majlis Joint Commission has decided that government employees who earn less than 360 million rials ($2,769) per year will be exempted from paying income tax as of the next Iranian year (starting March 20, 2020)
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners