Funds Invoice Tasks $34m in Tax on Luxury, Vacant Properties

The Iranian government has envisioned 7,070 billion rials ($27.19 million) in revenues from taxation on luxury homes as per the budget bill for the next fiscal year (March 2021-22). 
It has also estimated that vacancy tax (tax on empty homes) will earn 2,000 billion rials ($7.69 million), Mehr News Agency reported. 
Notably, the government had included income from taxation of luxury homes and cars in the Budget Law for the current year (started March 20), but nearly nine months into the year, the executive bylaw of which (the decree stating measures for the enforcement of the law) has not been drafted yet.   


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.