Page 26 - IRANRptMar21

Iran’s draft budget skips parliamentary scrutiny as coronavirus means legislature cannot be convened
the radar as the Donald Trump administration pursues its policy of using sanctions in an effort to drive Iranian crude off world markets—is a matter of conjecture. However, there is the prospect of US President-elect Joe Biden striking a new political deal with Tehran that would remove heavy US sanctions. Such an agreement is by no means guaranteed as things stand, but if it was achieved it could open the way for Iran to build up oil export sales to as high as 2mn b/d within around two years.
Traditional parliamentary scrutiny in Iran of the country’s draft state budget has been skipped in favour of sending it straight to the Guardian Council for approval given that 23 MPs have fallen ill with the coronavirus, the ​Financial Tribune d​ aily has reported.
Asadollah Abbasi, spokesman for the presiding board of the parliament, reportedly explained that the virus outbreak meant that, as per Article 85 of the Iranian Constitution, the draft budget for the 2020/2021 Persian calendar year (which commences on March 20) should be moved on to the executive body once it became clear the legislature could not be convened.
The 12-member Guardian Council—made up of Islamic Law experts selected by the supreme leader of Iran and six jurists selected by the parliament from among jurists proposed by the head of the Judiciary—has 20 days to review the budget bill from March 3, according to Abbasali Kadkhodaei, its spokesman.
The draft budget as it stands does not take into account the loss of income to the state from the closure of businesses in the country caused by the coronavirus epidemic.
The International Monetary Fund (IMF) estimated in April that Iran could hit a budget deficit of nearly 10% in 2020 from a 5.7% deficit in 2019. ​The IMF, meanwhile, has also calculated that Iran's total budget deficit for the current fiscal year will be around $58bn.
6.1.1​ Budget dynamics - tax issues, revenues
Iranian parliament approves “empty home” tax
Iran’s parliament, the Majlis, has approved revisions to Article 54 of the Direct Tax Code with an eye on moving on to the market thousands of empty apartments and other homes including villas across the country, IRNA reported.
26​ IRAN Country Report March 2021 www.intellinews.com