The Iranian National Tax Administration said interest on bank deposits of fixed investment funds are exempt from the new tax rules outlined in the fiscal 2022-23 budget.
INTA sought to clarify the apparent ambiguity surrounding the government budget leaving investors and capital market officials in a quandary whether or not the investment funds are eligible for the new tax regime, the Securities and Exchange News Agency reported.
The debate came after the Majlis in February lifted a ban on taxing interest on bank deposits of legal and institutional organizations while debating the budget.
April 03, 2022 19:44
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Investment Funds’ Bank Interest Not Taxable
So far INTA could not tax interest on bank deposits for both natural and legal entities as per the Direct Law Act. The new decision is in line with the cash-strapped government policy to raise tax revenue
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