Iran imports 4.6 tons gold bars

ran Customs Administration (IRICA) has reported that 4.6 tons of gold worth US$330 million were cleared through customs ports and imported into the country during the first two months of the current year.

The figure is 3.8 times more than the same period last year, when 1.2 tons of gold worth US$79 million were imported into the country, IRNA reported citing figures from IRICA.

Imam Khomeini Airport Customs was the origin of over 91% of gold imports in the first two months of this year.

Late in 2022, the Iranian government approved a plan to facilitate the import of gold as part of its anti-sanctions policy, allowing businesses to import gold to settle their export-related foreign exchange dues to the government.

According to a new directive from the IRICA, imports of gold are exempt from direct taxes, until further notice.

The directive states that the import of various types of gold will continue to be exempt from value-added tax (VAT) as well.