Govt. urges exporters to inject forex revenues to domestic economic cycle

TEHRAN, May 07 (MNA) – Iranian deputy finance minister announced on Tuesday that the government will not levy tax exemptions for Iranian exporters who do not inject their foreign revenues back to domestic economy cycle.

According to Mohammad Ali Dehghani, since domestic resources are consumed to supply production of the exported goods, all the exporters are required to return their exports revenues to domestic economic cycle otherwise they cannot enjoy tax exemptions.

Considering the US’s imposition of sanctions on Iran’s oil industry, non-oil exports could be the key for the development of the country's economy in the current situation.

As previously announced, Central Bank of Iran (CBI) has unveiled a decree containing a list of new incentives for the country’s exporters that re-inject their earned foreign currency to Iran’s domestic Forex Management Integrated System (locally known as NIMA).

Based on the announcement, those exporters who return more than 60 percent of their earned currency to the country’s economic cycle in accordance with previous decrees, in addition to the listed incentives, they will become CBI’s priority for allocation and supply of foreign exchange [in case they need it].

HJ/ICCIMA 28590

News Code 144982

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