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Iran will not pay duty on iron ore exports increased in the future

AddTime:2017-02-03 13:51:11   Views:     【 Big Mid Small 】   Print   Close


Iran's Commodity Exchange (IME) since February 2017 will launch domestic iron ore trade, if no buyers, the excess iron ore can be used for export.
IME related responsible person, through the new trading system, can prevent the domestic market, the phenomenon of the shortage of iron ore, and to ensure that only the excess iron ore exports. IME first launched in 2011 iron ore export trade, Iran's last fiscal year (as of March 20, 2016) by the IME exports about 2.1 million m tonnes of iron ore, but in the first nine months of this fiscal year (as of December 20, 2016) exports of 1.6 million tons, the future exports is expected to increase. According to previous media reports that Iran's government will be on the iron ore export tariffs, export tax of 10% in March, 2017, 2018, further to 15% in March. However, by the IME iron ore export trade can be a circuitous route, export surplus resources without domestic buyers will be able to avoid pay export duties.


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