Financial Tribune - Tax revenues have risen by 45% in the first five months of the current fiscal year (started March 21) compared with the same period of last year, according to the director of Iranian National Tax Administration.

Omid Ali Parsa also announced that tax revenues during the period reached 530 trillion rials ($4.64 billion), which show that 89% of the target set by the budget have been met in the five months, Tasnim News Agency reported.

“The growth in tax revenues is partly because of recovering overdue payments and putting in a great deal of efforts to fight tax evasion by tracking down bank transactions,” he said.

The government earned 1,090 trillion rials ($9.56 billion) in tax revenues during the last fiscal year that ended on March 20, 2019.

The earnings had been estimated to stand at 1,130 trillion rials ($9.91 billion) as per the fiscal 2018-19 budget law, suggesting that 97% of the target were arrived at.