Improvement in the use of taxation for sustainable private sector development

The Minister of Economic Affairs and Finance of Iran expressed hope that the process of total income tax would improve the use of tax instruments in the sustainable development of the private sector and to reduce disruptive activities.

(SHADA: TEHRAN) -- Speaking at the 87th Session of the Government and Private Sector Dialogue Council, Farhad Dejpasand described the total income tax as one of the main approaches of the Ministry.

The Minister of Economy pointed to the tax implementation process in the stock exchange and said: We need to boost the entry of large, medium and small scale companies into the stock market by providing incentives.

In implementing this plan, we should minimize the difficulties and in this regard it was decided to obtain members' additional comments and use them in the reform process, he noted.

Responding to a question about capital gains tax, Dejpasand also said: One of the things we focused on amending the direct tax law is the definition of new tax bases, including capital gains tax and tax exemptions.

"We have introduced numerous tax exemptions over a broad historical period, some of which have lost their validity and there is no reason for them to survive, so their amendment is on the agenda of the Ministry."

The 87th Session of the Government and Private Sector Dialogue Council, chaired by Farhad Dejpasand, aims to review strategies to facilitate the entry of companies to the Stock Exchange and accelerate tax collection by amending some of the provisions of the direct tax law.

The conditions for entry of small and medium-sized enterprises (SMEs) into the capital market and the problems and obstacles in the way of changing the legal status of corporations from limited liability to joint-stock were also discussed in the session.