Business And Markets
0

PBO Says Revolutionary Bodies Must Pay Tax

PBO Says Revolutionary Bodies Must Pay Tax
PBO Says Revolutionary Bodies Must Pay Tax

The government announced on Monday that revolutionary organizations involved in economic activities must pay tax in the coming fiscal year that begins in March 2020. 
According to a statement issued by the Plan and Budget Organization “as per the 2020-21 budget bill revolutionary bodies that also have economic and commercial activities must pay 15 trillion rials ($115 million) in taxes,” IRNA reported.
It named the Bonyad Mostazafan and the Setad Ejrai Farman Imam Khomeini (Execution of the Order of Imam Khomeini) as two such bodies that will have to pay tax next year. 
The PBO also named conglomerates affiliated to the Astan Qods Razavi that must pay their share of tax despite the fact that these are identified as Waqfs (endowments) and not subject to taxation. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com