TEHRAN - Iran's Customs Administration (IRICA) has reported that 6.6 metric tons of gold were cleared through customs and imported into the country during the first three months of the current year (March 20-June 20).

The figure is three times more than the figure for the same period last year, when two metric tons (mt) of gold bullion worth $130 million were imported into the country, IRNA reported citing figures from IRICA.

Imam Khomeini Airport Customs was the origin of over 91 percent of gold bullion imports in the first three 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 bullion are exempt from direct taxes, until further notice.

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

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