(Persia Digest) – The Head of Iran’s Management and Planning Organization of Iran (MPO) has announced that next year’s current budget will be set without using oil revenues with a view to the policies of resistance economy in order to decrease dependency on oil.
Mohammad-Bagher Nobakht added: “Based on decision-makings, oil revenues will be allocated solely to development projects.”
According to him, the elimination of hidden energy subsidies and increased income taxes will replace oil revenues. This does not mean a rise in income tax; but by setting new tax bases and eliminating unnecessary exemptions at a time of economic warfare, more tax revenues will be provided.
The Head of the MPO stressed: “The budget for 2020 will be totally different from previous years. The budget for every department will be assessed based on performance.”
Persia Digest (PD) reports that the Iranian government is trying to free itself from dependency on oil revenues with respect to the sanctions imposed by the US, reducing its exports significantly. It will be setting new tax bases and expanding tourism to increase its income.
Click here for more economic news.