EGFI Tax Exemption Bill

A proposal to exempt the Export Guarantee Fund of Iran from paying value-added taxes has been sent to the parliament as part of a bill and is being followed up, announced the director of the fund. Seyyed Kamal Seyyed Ali also called for increasing the capital of the fund in line with assisting development of non-oil exports, as EGFI’s capital is still a far cry from international standards. “The fund is also ready to cover temporary imports” if the Islamic Republic of Iran Customs Administration removes persisting hurdles, Seyyed Ali added, noting that many exporters currently are not inclined to use the services of the fund, which he regarded as a significant problem. He did not elaborate on the reasons for their disinclination.