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French Firm Positive about Prospects in Iran

An official at the French industrial conglomerate Groupe NOX said Iran’s nuclear deal with world powers which took effect last year has improved the prospects for financial and trade ties between Iranian and French companies, particularly in the oil and gas sector. Bernard Fages, Groupe NOX regional country manager made the statement on the sidelines […]

The Anti-Money Laundering Act

The Anti-Money Laundering Act Article 1: The general principle applies to the accuracy and veracity of commercial transactions subject of article (2) of the Commercial Code unless the contrary is proved in accordance with the provisions of this law. The individuals’ exercise of effective control over their assets and properties, if it is combined with […]

Iran Banking System

Domestic Banking System Banking system in Iran is similar to what exists in other countries from many aspects. It provides different kinds of facilities for Iranian and foreign investors, shareholders and depositors. Their services include a wide range which satisfies almost all financial needs of companies and factories, especially internal ones. Interest rates are usually […]

Banking (Part Three)

Chapter 1- Conditions Governing the Establishment of Banks ARTICLE 30 (a) – Establishment of banks, engagement in banking operations and the use of the word “Bank” in the title of credit institutions shall be entirely governed by the provisions of this Act; (b) Definition of the term “banking operations” shall rest with the Currency and […]

Central Bank of Iran (Part Two)

Chapter 1- General ARTICLE 10 (a) Bank Markazi Iran shall be responsible for the formulation and implementation of the monetary and credit policies with due regard to the general economic policy of the country. (b) The objectives of Bank Markazi Iran are to maintain the value of the currency and equilibrium in the balance of […]

The Currency (Part One)

ARTICLE 1 (a) The Unit of Iranian Currency is the Rial. One Rial is equal to one hundred Dinars. (b) One Rial is equal to 0.0108055 (zero point zero one zero eight zero five five) gramme of fine gold. (c) Changes in the parity of the Rial in relation to gold shall be effected upon […]

Miscellaneous

102.With which countries has Iran signed the Agreement on the Avoidance of Double Taxation? And are they enforceable at present? Before the Revolution, Iran had signed the Agreement on the Avoidance of Double Taxation with two countries, France and Germany, in 1964. After the Revolution, 19 agreements has been signed worldwide. 103.With which countries has […]

Other Facilities and Exemptions

100.Which facilities are offered by OIETAI for entry visa of foreign investors and experts? OIETAI facilitates visa formalities of foreign investors, including short and long term as well as single and multi entry visas (i.e., 3 year multi entry visa with a 3 months residence permit that is renewable for 1 year), by introducing foreign […]

Tax and Customs Facilities and Exemptions

90.What is meant by tax exemption, and how they are realized? Tax exemption means exemption from payment of tax on income derived from industrial, mining and producing activities. Companies in Iran are required to withhold the tax on dividend, which is considered as natural entities’ tax, and pay it to the relevant tax office (Article […]

Tax & Customs Issues

79.What is the rate of income tax for juridical persons in Iran? The rate of income tax for juridical persons in Iran is 25% of the taxable income (Article 105, Iranian Tax Code). 80.Is an equal rate of tax applicable to all types of company including Iranian as well as foreign companies? The rate of […]