Commission Sets Ceiling for Income Tax Exemption

Majlis Joint Commission, the parliamentary body responsible for reviewing the budget bill, on Wednesday approved that those with a monthly income of less than 27.5 million rials ($230) will be exempt from paying income tax in the next fiscal year

Financial Tribune- Majlis Joint Commission, the parliamentary body responsible for reviewing the budget bill, on Wednesday approved that those with a monthly income of less than 27.5 million rials ($230) will be exempt from paying income tax in the next fiscal year (March 2019-20), IRNA quoted the commission's rapporteur, Mohammad Mehdi Mofatteh, as saying. “Next year’s income tax system for those earning more than this figure will be a progressive one, meaning people with higher incomes will pay higher tax rates," he said, adding that Majlis Joint Commission also approved a 20% rise in the salaries of all government employees.

Feb 2, 2019