Economy, Domestic Economy
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Tax Administration Defends Monitoring of Bank Transactions

INTA Defends Monitoring of Bank TransactionsINTA Defends Monitoring of Bank Transactions

Head of the Iranian National Tax Administration Kamel Taqavi-Nejad said it’s perfectly legal for the administration to monitor banking transactions to prevent tax evasion.

“There are people who suggest that probing into people’s income and bank account is against the law, whereas they are either ignorant about the rules and regulations, or pursuing their own interests,” IRNA quoted Taqavi-Nejad as saying. Noting that reforms have been introduced to criminalize tax evasion, the official said those involved with the illegal practice will face investigation. He had earlier said that tax evasion stands at between 140 and 300 trillion rials ($3.5-7.5 billion) in the country due to the underground economy, smuggling and lack of transparency.

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