New, Old Vehicle Registrations to Cost More in Iran

Asre Khodro - The government expects to earn ۱۸.۳ trillion rials ($۴۶۰ million) in the next fiscal year through two automotive charges.

Reporting "Asre Khodro", The proposed budget for March ۲۰۱۷-۱۸ shows the amount will be raised from the sale of car registration plates and fees to be collected from the sale of vehicles in the new and second hand markets, khabaronline.ir reported. 

President Hassan Rouhani’s budget for the next fiscal was presented to the Majlis in December the outlines of which have been approved in the chamber. 

The administration expects to generate ۱۱ trillion rials ($۲۷۶.۵ million) through new taxes on registration plates alone.

It also expects to make ۷.۴ trillion rials ($۱۸۴ million) from taxes on transferring vehicle ownership rights.

Independent observers, however, say the government will only be able to rake in ۶.۵ trillion rials ($۱۶۳.۵ million) from this source while ۸.۵ trillion rials ($۲۱۲ million) will be earned from selling registration plates—amounting to a total of ۱۵ trillion rials ($۳۷۵.۵ million).

For the outgoing fiscal year, the government had forecast that it would earn ۷.۵ trillion rials ($۱۸۵.۸ million) from services related to transferring vehicle ownership and ۷.۷ trillion rials ($۱۹۳ million) from number plates.

During the eight months of the current fiscal year that ends in March, the government procured ۳.۸ trillion rials ($۹۵.۳ million) from the former source and ۶.۴ trillion rials ($۱۵۹ million) from the latter.

 

Source: financialtribune.com

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