Trial Execution of VAT Legislation Extended for Another Year
J.Nouraei & M.Mostafavi Law Offices -29 December 2020-Tehran-In line with Article 2 of the Civil Code of Iran, according to which the legislation of the Iranian Majlis is enacted after 15 days from the date of its publication in the Official Gazette, the Law of Extension of the Trial Execution of the Value-added Tax Act came into effect on 23 December 2020.
The Majlis in the said measure extended the trial execution period of the VAT Act, passed in spring 2008, up to 22 October 2021. The applicable amount of the Iranian VAT is currently 9% of transacted goods and services. Exclusions have been foreseen in the Act.
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