VAT Exemption for Stockbrokers
Economy, Business And Markets

VAT Exemption for Stockbrokers

Brokerages will not pay value added tax anymore on their trading and clearing services, said Mostafa Haqiqi Mehmandari, a member of Bourse High Council, on Wednesday.
The decision, which is aimed at helping the brokerage industry rise from the slump in equity trading and boost investor confidence, was made in a meeting between high-level authorities from the Securities and Exchange Organization, Iranian National Tax Administration and Tehran Stock Exchange on October 21, Boursepress reported.
After three years of push and pull, a list of brokerages’ trading and clearing services will be exempted from paying VAT.
Brokerage activities are listed under articles 11 and 12 of the VAT tax code.
“Further exemption for credit given by brokerages will be sought,” Haqiqi added.
“To implement the change, SEO will rewrite a new draft for Article 12 of the VAT code and exemplify brokerage trading and clearing services before submitting it to the tax administration. Tax authorities will then issue the appropriate directives.”


Short URL : http://goo.gl/5vQdOI
  1. http://goo.gl/ACHHtK
  • http://goo.gl/g2UyQ9
  • http://goo.gl/CpHpkx
  • http://goo.gl/VO12dK
  • http://goo.gl/SWz9Ah

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...