IRICA: Samsung Not Involved in Fraud Case
IRICA: Samsung Not Involved in Fraud Case

IRICA: Samsung Not Involved in Fraud Case

IRICA: Samsung Not Involved in Fraud Case

Following rumors that an unidentified South Korean company fined by the Islamic Republic of Iran Customs Administration for evading import tariffs could be Samsung, IRICA has clarified that this company is not involved in the case.
The reaction comes after it was reported that a South Korean home appliance manufacturer, whose name was not disclosed, has been fined about 30 trillion rials ($750 million at market exchange rate) for dodging the payment of 18.2 trillion rials (over $450 million) in tariffs by shipping disassembled products through separate customs bureaus.
Home appliances are subject to import tariffs of more than 50%, if shipped as final products to Iran. However, the government imposes considerably less for parts used in appliance manufacturing to support domestic industries.
South Korean electronics giants, Samsung and LG Electronics, lead Iran’s home appliance market. While foreign products account for 65% of the Iranian market, the two South Korean companies hold a 55% share.
Home appliances also account for 13% of all the goods smuggled into Iran.


Short URL : https://goo.gl/1AGx8v
  1. https://goo.gl/HZsKWo
  • https://goo.gl/jOKkja
  • https://goo.gl/lr9uda
  • https://goo.gl/UUgUkI
  • https://goo.gl/TYU1hu

You can also read ...

Currency, Gold at New High in Tehran Market
The foreign exchange market heated up again on Monday to post...
Iranian Ministry of Industries, Mining and Trade has released...
Gov’t to Issue Bonds to Pay Back Loans on Iran Air ATR Planes
The government’s Economic Council last week approved a...
Iran: Summer Sees Highest Inflation on Record
The consumer price index increased from 116.2 to 134.6 or...
Iranian Private Carmaker Increases Prices 55%
Iran’s largest private automaker Modiran Vehicle Manufacturing...
Tehran Stocks Rally, Incline Toward Export Sector
Tehran Stock Exchange set a fresh record high on Monday as...
Iran Steel Exports Rise  27% to Over 4m Tons: ISPA (Mar-Aug, 2018)
A total of 4.13 million tons of finished and semi-finished...
Iranian Banks Lend $16.8 Billion in 5 Months
Banks and credit institutions allocated 2.4 quadrillion rials...

Add new comment

Read our comment policy before posting your viewpoints