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Iranian businessmen evade $2.5B tax on trade cards

Business Materials 19 October 2016 20:44 (UTC +04:00)

Tehran, Iran, October 19

By Mehdi Sepahvand –- Trend:

Iranian businessmen have evaded some $2.5 billion tax on a series of unnamed trade cards.

These were rental cards and since they are unnamed, the tax cannot be collected, Parliament Economic Commission Chairman Mohammad Reza Pourebrahimi said, the Young Journalists’ Club reported.

Trade cards in Iran are permits given by the Chamber of Commerce to businessmen, allowing them to conduct business transactions with abroad.

Pourebrahimi also announced the ratification of an act by the Parliament which requires businesses to state their account information and invoices.

“This is done to improve economic transparency. If the businesses refrain from stating their facts, they will be banned from all registration services as well as banking services,” the lawmaker said.

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