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Top official of Iran's Kish free zone criticizes decision to reduce tax exemptions

Business Materials 2 December 2019 19:19 (UTC +04:00)
Top official of Iran's Kish free zone criticizes decision to reduce tax exemptions

TEHRAN, Iran, Dec.2

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Managing Director of Kish Free Zone Organization (KFZO) said that in competitive conditions between Iran and neighboring countries' Free Zones the government should not decide to reduce tax exemptions.

"The government has already drafted the bill, but we hope the parliament will not approve it," Gholam-Hossein Mozaffari said rferring to the governmental plan to reduce tax exemption of the free zones, Trend reports citing ILNA.

“The logic of establishing free zones was to provide incentives to attract domestic and foreign investments. These incentives should be developed, not limited,” the managing director noted.

"There is no doubt that the country's income should increase and one way to increase tax revenue is reducing the tax exemptions,” he said adding that the government should provide tax revenue from the tax evasion.

“MoU was signed with the project contractor," Mozaffari said referring to the launching date of the artificial island construction on Kish.

"The final contract will be signed with Khatam al-Anbyia construction company, after conducting environmental study. The island is supposed to be a resort,” he added.

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