1500 knowledge-based firms to get tax exemption

TEHRAN, Aug. 15 (MNA) – Iran’s vice president for science and technology has said the government would offer tax exemption to knowledge-based organizations this year.

In a meeting with Mazandaran’s businessmen and entrepreneurs, Sorena Sattari announced that till the end of the current Iranian year the goverenment will provide tax relief for 1500 knowldege-based firms.  

Emphasizing the ineffectiveness of oil-based economy, Sattari said that “economic development will be impossible as long as we follow this policy.”

He considered Knowledge as superior to wealth and mentioned that, “any knowledge able to raise revenue is supported and the government should invest more in research areas than in commercialization.”

Stressing the importance of human resources in knowledge-based economy, Sattari said that, “human resources will be appreciated more if we acknowledge their vital role in the country’s economy.”

Mentioning that 60% of knowledge-based companies are start-ups, he said that, “1600 of these companies have sold for more than 180 bn dollars."

Vice President for Science and Technology further announced the formation of ‘Innovation and Prosperity Fund’ with the purpose of supporting knowledge-based companies and added that, “up to this time, these companies have been provided with 480 different facilities.”

By expressing satisfaction about the performance of the Fund over the last year, Sattari concluded that if the private sector starts investing in ideas, knowledge-based thinking will replace petroleum thinking.

News Code 109236


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