3 Insurance Brackets Exempt From VAT

The Majlis has voted in favor of including life insurance policies in the list of goods and services exempt from value-added tax.
In the Tuesday meeting, parliamentarians approved an article of the VAT Bill that includes tax breaks for life insurance, insurance coverage for agricultural products and complimentary medical insurance policies, the parliamentary news website ICANA reported.
This decision comes amid insurance companies' complaints over the negative impact of taxes on life insurance policies.  VAT in Iran is fixed at 9%.