• 4 minutes China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 7 minutes Beijing Must Face Reality That Taiwan is Independent
  • 11 minutes Phase One trade deal, for China it is all about technology war
  • 14 minutes Shale Oil Fiasco
  • 15 mins We're freezing! Isn't it great? The carbon tax must be working!
  • 2 hours Which emissions are worse?: Cows vs. Keystone Pipeline
  • 10 hours Trump capitulated
  • 17 hours Thanks to Trump, the Iranian Mullahs Are Going Bankrupt
  • 1 hour Indonesia Stands Up to China. Will Japan Help?
  • 3 hours What's the Endgame Here?
  • 30 mins Trump has changed into a World Leader
  • 3 hours Turkey Muscles-In on Israel-Greece-Cyprus EastMed Gas Pipeline Deal. Erdogan Still Dreaming of Ottoman Empire II.
  • 10 hours US Shale: Technology
  • 11 hours Gravity is a scam!
  • 1 day Yet another Petroteq debt for equity deal
  • 1 day Three oil pipeline projects inch toward goal-line for Canada
  • 1 day The Libyan Oil in a Sea of Chaos, War and Disruptions
What’s Next For Oil? No One Seems To Agree

What’s Next For Oil? No One Seems To Agree

While many of the headlines…

Oil Will Stay Above $50 Per Barrel In 2020

Oil Will Stay Above $50 Per Barrel In 2020

Energy markets have started the…

Iranian Tax Official Says VAT for Oil Products Did Not Materialize in 2010

Taxation Affairs Organization for Value-Added Tax (VAT) deputy head Mohammad-Qasem Panahi has lamented his organization’s ability to collect revenue.

Panahi said during an interview, "The total VAT revenue, including tax on oil products, passenger exit tax, cigarette tax, automobile transportation tax, vehicle registration tax, and import duties and taxes, in last year's budget was anticipated to be about $5.6 billion, of which $3.7 billion were collected last year. That is, 66 percent of the budget law target did materialize. The main reason for the non-materialization (of the complete budget plan) was that about $1.6 billion from oil products was anticipated to be collected, but because the Targeted Subsidies Plan and the floating of the price of oil products, especially gasoline, took place toward the end of the year 1389 (year starting 21 Mar 2010), and 10 months of the year were based on the previous price, this revenue did not materialize.

In last year's budget plan, $2.8 billion were revenues anticipated from the VAT only. In fact, $2.1 billion was collected and 74 percent of the targeted revenue materialized. In the current year's (1390) budget plan, $6.7 billion are anticipated from the VAT, of which $4.1 billion is anticipated as revenue. With the help of taxpayers, we will attempt a better materialization this year, because both oil product prices and the number of eligible taxpayers have increased. Also, the tax rate has increased 1 percent and the VAT rate has gone up from 3 to 4 percent."

Given gasoline shortages because of a lack of refining capacity, the Iran government is dealing with a significant problem in smuggled fuel being imported, which is not subject to government taxation, Jomhuri-ye Eslami newspaper reported.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage


Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News