Economy, Business And Markets

Incentives for New Industrial, Mining Firms

Incentives for New Industrial, Mining FirmsIncentives for New Industrial, Mining Firms

New private industrial and mining firms will receive tax incentives upon registration and obtaining the required permits as of the next Iranian year (to start March 20, 2016), Iranian Mines and Mining Industries Development and Renovation Organization has announced. The incentives start with a 5% discount on direct taxes. They increase to 7% for those operating in industrial parks or special zones, 10% in underdeveloped areas and 13% in industrial parks located in special economic zones, IMIDRO's public relations reported.

In order to qualify for the incentives, the firms must be located outside a 120-kilometer radius of Tehran, 50 kilometer-radius of Isfahan and 30-kilometer radius of other provincial capitals and cities with a population of more than 300,000.