25th May 2008
The Guardian Council Ratifies the Value Added Tax Act
*The spokesman of the Guardian Council:"Members of the [Guardian Council] did not consider VAT Act as against Constitution or contrary to spiritual law".
*The president of the Iranian National Tax Administration (INTA) declared that VAT Act is to be implemented from 22th September 2008.
*With I.R. Iran's President's order the VAT rate for producers, which was to be 7 percent, was reduced to 1.5 percents (Plus 1.5 percents Excise).
*The VAT bill was referred to the Economic Commission of the Parliament in Tir 1385 (Jun 2007) and was approved on 19th August 2007; Since then it has been reviewed, objected to and returned to the parliament for amendments several times.
*To reduce the possible inflationary effects of the implementation of VAT Act, many exemptions have been envisioned in it.
Source: Iran Newspaper