TEHRAN - Iran’s tax revenues rose by more than half in the calendar year to late March amid efforts by the government to diversify the economy and reduce its dependence on oil exports.

A Sunday report by the ISNA news agency said the Iranian government had collected 12,290 trillion rials ($14.1 billion) worth of tax in the year to March 20.

The report cited figures from government agencies responsible for economic statistics, saying tax revenues had increased by 51.7% from the year to March 2024.

It also quoted the head of the Iranian National Tax Administration (INTA) as saying that the tax to gross domestic product ratio in the Iranian economy had reached 8.3%, up from 5.7% in 2021.

Mohammad Hadi Sobhanian said that tax revenues had funded more than 50% of the Iranian government’s budget needs last year, up from below 30% in 2021.

Previous statements from the INTA have shown that the agency relies on direct tax, which mainly includes the income tax as well as duties imposed on corporations and taxes levied on the rich, for more than 70% of its receipts.

The Iranian government has tried to increase its tax revenues in recent years amid US sanctions that have restricted its ability to sell oil in the international markets.

The INTA has reported major increases in its annual receipts thanks to better taxation policies and the increased use of online platforms for tax payments.

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