Financial Tribune - The government earned 1,340 trillion rials ($8.7 billion) in tax revenues since the beginning of the current fiscal year (March 21, 2019) to Feb. 29.

The current budget law has projected 1,425 trillion rials ($9.25 billion) in tax revenues up to the end of current Iranian year (March 19). The above figures indicate that around 95% of the target have already been realized.

Amid financial constraints brought upon by sanctions, the government is counting on tax as a major source of revenue in the next Iranian year. New forms of taxes have been introduced to curb the widening deficit in the government budget.

Omid Ali Parsa, director of Iranian National Tax Administration has said that once the parliament gives its full consent, luxury homes and pricy cars will be subject to wealth tax as per the budget bill for the next fiscal year (March 2020-21).