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Iran exempts import of foreign currencies from taxation

Tehran, IRNA – Head of the Iranian National Tax Administration Davood Manzoor has announced that all persons and entities are entitled to freely import foreign currencies from customs offices.

According to the official, the National Tax Administration issued a statement ordering all customs offices to allow entering of foreign currencies and money orders; thus, the entry of foreign currencies, such as banknotes and money orders are exempted from taxation.

The new circular provides any person or entity to import foreign currencies as much as desired from official customs offices and the security and law enforcement forces should not hinder the process, he noted.

On the basis of the new administrative circular, the Central Bank of Iran, the Ministry of Economic Affairs and Finance, the Law Enforcement Command of the Islamic Republic of Iran and other apparatus are tasked to facilitate the entry of foreign currencies, and the economic operators should not be afraid of taxation and the supervisions of the source of the capital.

The new circular would be in place from the date of declaration until November 21, 2023.