Iran’s customs revenues up 39% in H1 calendar year: IRICA

Iran’s customs office (IRICA) says its revenues rose significantly in the first half of the calendar year that started in late March.

IRICA chief Mohammad Rezvanifar said on Wednesday that Iran’s customs revenues had increased by 39% year on year in the six months to September 21 to reach a total of 1,120 trillion rials ($1.9 billion).

Import tariffs, including taxes imposed on commodities, cars, expensive mobile phones, machinery and equipment, accounted for 648.71 trillion rials of Iran’s customs revenues in April-September, said Rezvanifar, adding that the figure was an increase of 74% compared to the same period last year.

He added that the Iranian government had also earned 467.62 trillion rials from the value added tax imposed on commodities and products processed in the customs in the six months to late September, up 8% from the same period in 2023.

Iran has sought to rely more on tax and customs revenues in recent years amid sanctions that have restricted its oil exports.

The country earned more than $6.88 billion in tax revenues in the five months to August 21, up 44% compared to the same period last year.

That comes as Iran earmarks tens of billions each year to subsidize imports of basic goods and commodities, including grains, medicine and animal feed, to ensure food security and to stabilize prices in the local market.

Figures released by Iran’s central bank in mid-August showed that the lender had subsidized more than $27 billion worth of imports into the country in the five months before that.

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