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Iran: Cabinet okays taxation deals with France, Germany

Tehran, Jan 3, IRNA -- The Khatami administration has decided to conclude separate agreements with France and Germany to avoid double taxation, the English-language paper 'Iran Daily' wrote on Monday.

The move was proposed by the Ministry of Economic Affairs and Finance. The cabinet assigned the ministry to follow up the relevant legal issues to materialize the deals.

First Vice President Mohammad Reza Aref has tasked Minister of Economic Affairs and Finance Safdar Hosseini to implement the ratification.

Iran signed an agreement on removal of double taxation on trade and investments as well as preventing tax evasions with Spain and the Philippines in December.

The agreement stipulates that all salaries and wages earned from employment by a foreign national are only taxable in the country of origin.

Iran has signed agreements with 48 nations on support of joint trade and investments.

The agreements stipulate that the governments finance private companies making the pacts an effective tool in support of economic vibrancy in Iran.

Iran has inked accords with 34 countries on avoiding double taxation on trade and investments, which is also a boost in drawing funds to the national economy.

Double-taxation is when a given product is taxed twice--in the country of origin and in the recipient country. The initiative to remove double-taxation would effectively help non-oil exports.

... Payvand News - 1/3/05 ... --

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