Iran's tax administration issues a directive on the exchange rate used for imports without currency transfer

The head of Iran's National Tax Administration has issued directive number 200/1405/37 to tax offices, setting out how the exchange rate is determined for imports made without a currency transfer and the conditions under which foreign-exchange translation losses are accepted as a deductible expense. The directive was reported on Thursday, 30 July 2026 (8 Mordad 1405).

Under the directive, for imports without a currency transfer, the exchange rate used to calculate the cost of imported goods is set on the basis of supporting documents; where no such documents exist, the banknote selling rate of Bank Melli Iran's exchange bureau applies. Where part of the foreign-currency transactions falls under obligations set by competent authorities, including the Central Bank, the rate set by those authorities is applied in the tax audit. For discharging export currency commitments through imports against exports, in the absence of supporting documents the buying or selling rate of the Iran Currency and Gold Exchange Centre is used.

On translation losses, the directive cites clause 24 of article 148 of the Direct Taxes Act, confirming such losses are a deductible expense provided the taxpayer applies a consistent method across years.