INTA Sets POS Sales as Basis for Profits Tax

The profits tax on enterprises will be calculated based on sales registered in their point-of-sale systems, says the head of Auditing Department of the Iranian National Tax Administration.
Shahin Mostofi added that the money deposited in their banking account will not be factored in their tax calculation, Otaghiranonline.ir reported. 
“The profits made by businesses are taxed by INTA; the higher the taxpayers’ profits, the more their taxes. According to Article 101 of the Law on Direct Taxes for Business Owners, up to 360 million rials [$1,124] in [annual] profit will be exempt from tax in the fiscal 2021-22. The sum of 360 million rials will be deducted from the profits made during the year and the rest will be taxed,” he said.