Iran Planning To Expand Tax Base: IMF
by Lorys Charalambous, Tax-News.com, Cyprus
01 March 2017
Iran is to take forward tax measures to expand its revenue base to 10 percent of gross domestic product, from 7 percent, the International Monetary Fund's (IMF's) latest report for the country says.
The IMF said that Iran will need to broaden the tax base, improve administration, and increase and expand excise taxes. It added that raising the value-added tax (VAT) rate would compensate for the revenue lost from corporate tax incentives and the cut to personal income tax rates approved in 2016/17.
The report said that Iran should re-organize its tax authority by taxpayer groups and create a risk management unit to improve taxpayer compliance rates.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- Should I Incorporate My Business In Texas? »
- International Tax Planning »
- unsurprising teething problems »
- Cyprus Laws and Regulations »
- A warren of rabbit holes »
- GDPR, a possible laughing matter? »
- Why is Hong Kong One Of The Best Place To Base Your International Corporation? »
- Banking in UAE »
- VAT in the Construction Industry »
- Why choose New Zealand as an offshore financial centre? »