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The VAT act is finally approved by the parliament and the Guardian Council - 22 May 2008
 

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