Farood Asgari, the head of the Iranian Customs, issued a circular on November 1, 2026, to the general managers and directors of the country's executive customs, stating that the use of bank guarantees instead of cash payment for value-added tax and related duties has been extended for two months. This decision is based on the cabinet approval dated October 21, 2026.
Details of the Extension
In this circular, it has been emphasized that the country's executive customs are obliged to determine the due date of the received guarantees in such a way that the funds related to these guarantees are collected by the end of the current financial year. This notification has been sent to the executive customs of the country, signed by the head of the Iranian Customs, and its provisions will be closely monitored for accurate implementation.
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Consequences of the Extension for Traders
The extension of the possibility to provide bank guarantees instead of cash payment for tax and customs duties can be significant for importers and business operators in terms of liquidity management. This opportunity allows them to utilize their financial resources in their business activities and supply chain instead of making immediate payments for these costs. Given the economic conditions, this action could help improve financial status and facilitate the import of essential goods.
As a result, this decision has been made to support economic operators and facilitate business processes in challenging economic conditions. Furthermore, this action reflects the government's attention to the needs of importers and efforts to prevent financial difficulties in business activities.
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