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Taxman Will Look Closer at Banking Transactions

Taxman Will Look Closer at Banking Transactions  Taxman Will Look Closer at Banking Transactions

In a directive to banks and credit institutions, the Central Bank of Iran obliged lenders to report banking transactions of tax payers to the Iran National Tax Administration on a monthly basis. 
The rule, enshrined in this budget (March 2019-20), seeks to help promote transparency in banking transactions, alleviate money laundering and control tax evasion, IRNA reported. 
As per law, on INTA’s request banks and credit institutions should provide data about bank accounts and transactions (both interbank and intra-bank) of tax payers. In addition, the law allows the CBI to freeze bank accounts of clients lacking a national ID number.

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