Iran Customs Posts Highest Midyear Revenues

The Islamic Republic of Iran Customs Administration has turned in its best-ever midyear profit during the first half of the current Iranian year (March 21-Sept. 22), according to a report published on its website on Sunday.

IRICA brought in a total revenue of 108 trillion rials ($776.97 million) in the six-month period out of import tax and duties, including letters of guarantee it received from importers.

H1 revenues stood at 73.4 trillion rials ($528.05 million) without counting in letters of guarantee, despite a nearly 13% decline in imports and the government’s ban on imports of 1,400 consumer goods, particularly cars.