Economy, Domestic Economy

Tax Relief for Startup Companies

Tax Relief for Startup Companies Tax Relief for Startup Companies

All startup companies will enjoy tax relief as of next year (March 2017-18), said Naser-Ali Sa’adat, the head of Iranian ICT Guild Organization.

According to Asghar Nourollah-Zadeh, the managing director of Omid Entrepreneurship Fund, lack of financial resources is a major problem facing startup companies.

The fund is geared toward supporting entrepreneurship and small- and medium-sized enterprises.  Recently, the Securities and Exchange Organization unveiled its platform for hosting venture capital funds to help expand tech companies.

The platform was designed in cooperation with over-the-counter market Iran Fara Bourse, which will list both VCs and small tech companies to help them fund their ventures. These investment funds manage the money of investors who seek private equity stakes in startup and small- to medium-sized enterprises with strong growth potential.

“Loans are not a good method for funding newly formed knowledge-based companies and a considerable part of their capital should come from venture capital funds [as equity],” Sorena Sattari, the president’s top technology deputy, said.