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The country is under sanctions by the United Nation’s Security Council and/or the UK Government. Currently B2B Hub is not providing legal and financial services for the present country.

Iran

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About

Iran

Capital
Official languages
Population 
Currency

ISO 4217

Tehran

Persian

83,992,949 (as of July 2020)

Iranian Rial

IRR

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Economy

Iran has a mixed economy that is largely based on oil and gas exports. According to the World Bank, Iran's GDP in 2019 was estimated to be $424.2 billion, making it the 18th largest economy in the world. The unemployment rate in Iran was estimated to be 11.3% in 2019, while the inflation rate was estimated to be around 40.2%. Iran's main exports are crude oil, natural gas, and petroleum products, which account for around 80% of the country's total exports. Iran also exports agricultural products, carpets, and textiles. The main imports of Iran are machinery, food, and industrial raw materials. The country's main trading partners are China, the United Arab Emirates, Iraq, and India.

Taxation

In Iran, both corporations and individuals are subject to income tax, value-added tax (VAT), and various other taxes and duties. Here is an overview of the tax system in Iran:


Corporate taxation:

- Corporate income tax is levied on the profits of companies at a flat rate of 25%, with certain exceptions for specific industries.

- Dividend payments made by Iranian companies to shareholders are subject to a withholding tax of 15%.

- Other taxes and duties that companies may be subject to include the social security tax, property tax, and customs duty.


Personal taxation:

- Individuals in Iran are subject to personal income tax on their worldwide income at progressive rates ranging from 10% to 35%, depending on their income level.

- Social security contributions are also deducted from employees' gross salaries at a rate of 7% for health insurance and 3% for pension contributions.

- Other taxes that individuals may be subject to include the property tax and inheritance tax.


Tax payment process and calendar:

- Iranian taxpayers are required to file their tax returns annually by the end of the seventh month following the end of the Iranian calendar year, which is March 20th.

- Companies are required to pay corporate income tax in four instalments throughout the year, with the first three instalments due by the end of the third, sixth, and ninth months of the Iranian calendar year, respectively, and the final instalment due by the end of the twelfth month of the Iranian calendar year.

- Individuals may be required to pay advance tax if their tax liability for the year exceeds a certain amount. Advance tax payments are made in four instalments throughout the year, with the first instalment due by the end of the third month of the Iranian calendar year, the second instalment due by the end of the sixth month, the third instalment due by the end of the ninth month, and the final instalment due by the end of the twelfth month.

- Late tax payments are subject to penalties and interest charges.

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PDF application form

B2B hub provides fillable PDF application forms, you can simply save the filled form and send us by email clicking here  reg@b2bhub.uk or live chat

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