Baku, Azerbaijan, Feb. 8
By Fatih Karimov – Trend:
Iran and South Korea signed a memorandum of understanding on cooperation between their tax administrations, Tasnim news agency reported Feb. 8.
The deal was signed by Kamel Taghavinejad, head of Iran's tax organization, and Lim Hwan-soo, South Korea's National Tax Service (NTS) commissioner, in Tehran.
Under the document, the two sides will cooperate in sharing taxation data, experience and knowledge.
The MOU also envisages taking steps to facilitate bilateral trade and investment.
The two parties will hold meetings to expand cooperation, according to the document.
Earlier in January, Iran and South Korea signed an MOU to boost economic ties and mutual investment.
Sharing investment making data and economic knowledge as well as both countries’ direct investments to each other are among the agreed topics in the aforementioned document.
South Korea is among the top five importers of Iranian goods.
Iran exported $2.567 billion worth of non-oil goods to the Asian country in the first 10 months of current fiscal year (March 20, 2016-Jan. 20, 2017).
Iran’s exports to South Korea registered a huge rise by 383 percent in the period year-on-year.
Iran also imported $2.786 billion worth of goods from South Korea in the same period, 9 percent less year-on-year.