Import of Iron and Scrap Metal from Iraq and Afghanistan Prohibited

Back Tehran-23 April 2017- The Trade Promotion Organization of Iran in its letter No. 96/210/4116 dated 3/02/1396 (23 April 2017) to the Iran Customs has declared that since the iron and other metal scraps of Iraq and Afghanistan might be harmful due to  chemical and dangerous radioactive contamination and non-detonated explosives, therefore importation of such items shall be prohibited as before.

Foreign Finance and Financial Facilities Exempt from Taxation in Iran

Back Tehran- 9 April 2017-  According to the Law of Permanent Rules of the Development Plans of the Country, passed by the parliament on 10/11/1395 (29 January 2017), a particular tax exemption was set for foreigners financing Iranian projects. The incentive was published in the Official Gazette today.

Article 41 of the said law stipulates: “If introduced by the Central Bank of the Islamic Republic of Iran and approved by the Minister of Economic Affairs and Finance, foreign juridical persons residing abroad and granting facilities and finance to Iran, shall be exempt from payment of the tax foreseen in Article 107 of the amendment made to the Direct Taxation Act on 31/04/1394 (22 July 2015)”.

Article 107 stipulates that, depending on the case, the foreign natural and juridical persons residing abroad shall be taxed on the basis of 10% to 40% of the total sums acquired by them within one fiscal year in Iran or from Iran with respect to designing plans for construction and installations, topographical surveying, cartography, supervision and technical calculations, training and technical assistance, transfer of technical know-how, other services and assignment of concessions and other rights as well as ceding of movie profit rights (earned as box office receipts, screening rights, or otherwise).

Agreement on Social Security Concluded between Iran and Turkey

Back Tehran- 18 March 2017- According to the Official Gazette of today, the Iranian parliament approved on 27/11/1395 (15 February 2017) The Law of Agreement between the Government of the Islamic Republic of Iran and the Government of the Republic of Turkey.

Article 3 of the 32-article accord states: “The purport of this agreement applies to the persons who have been subject to the laws of each or both contracting parties and/or are presently subject to the laws of each contracting party, as well as the family members of the said persons and their heirs, unless foreseen otherwise in this Agreement”.

In light of Article 4 of the agreement, nationals of a contracting party residing in the territory of the other contracting party,  shall have the same rights and obligations  applying to the nationals of the latter party, as far as the purport of the Agreement allows.