Iran implements new measures on tax payments amid coronavirus spread

Business Materials 16 March 2020 13:39 (UTC +04:00)

TEHRAN,Iran,March 16


Iranian National Tax Admission Organization has implemented measures for tax payments, to support economic activities that have been affected by the coronavirus spread, head of the organization Amid Ali Parsa told Trend.

"To prevent the spread of the disease, the meetings for tax reviews were canceled. The banks are inclined to ask for clearance of legal individuals to provide advances, but the in current situation banks can provide up to 2 billion rials (about $47,000) worth of advances while there is no need for clearance if the advance is 5 billion rials (about $119,000)," he added.

"The Supreme Economic Coordination Council has decided to extend the deadline for value added tax payment from April 3 to May 20, " he said.

"The following supportive plan has approved that all tax payment will be stopped until May 20," he added.

"The business permits of legal individuals can be extended by September 22 and do not need to extend their permits early for tax payments," he said.

Iran is one of the countries heavily affected by the rapidly-spreading coronavirus. According to recent reports from the Iranian officials, over 13,000 people have been infected, 724 people have already died. Meanwhile, over 4,500 have reportedly recovered from the disease.

The country continues to apply strict measures to contain the further spread. Reportedly, the disease was brought to Iran by a businessman from Iran's Qom city, who went on a business trip to China, despite official warnings. The man died later from the disease.

Following the reports of coronavirus spread in the Islamic Republic, several countries have taken measures, including closing borders and banning flights.

The Islamic Republic only announced its first infections and deaths from the coronavirus on Feb. 19.