Economy, Domestic Economy
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Tax Holiday for New Production Units

Tax Holiday for New Production Units Tax Holiday for New Production Units

Production units to be established in the less developed areas will be exempt from tax, deputy minister of industries, mining and trade, Hossein Abouyi Mehrizi has announced. Production units to be established in industrial parks will enjoy a 13-year tax holiday, Mehr News Agency quoted him as saying. “More than 14,600 production and industrial units have come on stream during President Rouhani’s tenure (mid-2013) so far in various fields, namely steel, petrochemicals, food industry, aluminum, copper and textiles. The new factories have created much-needed Jobs,” the official said. It was not clear how many new jobs were created by the factories during the past three years. In a public address during a visit to the Kohgiluyeh-Boyer Ahmad Province in the southwest on Sunday, President Hassan Rouhani said 7,500 enterprises will come on stream by the yearend. The president and his men have regularly voiced concern over joblessness, especially among the university graduates. Some officials have also warned about a so-called “tsunami of unemployment” if effective means are not taken to create sustainable jobs and cut the dole queue.

Financialtribune.com