In an open session of the Parliament on Sunday morning, the lawmakers ratified the Agreement for the Avoidance of Double Taxation (DTAA) and the Prevention of Fiscal Evasion.
In February 2018, Iran and India signed the agreement with respect to taxes on income.
The Agreement is said to stimulate the flow of investment, technology and personnel from Iran to India and vice versa, and will prevent double taxation.
The Agreement will also provide for the exchange of information between the two contracting parties as per the latest international standards. It will improve transparency in tax matters and will help curb tax evasion and tax avoidance.
Earlier this year, Head of National Tax Admission Organization of Iran Omid Ali Parsa stressed the importance of accelerating legal procedures to ratify avoidance of double taxation.
Parsa said the implementation of this agreement will result in promoting economic relations and trade exchange between the two countries.
In addition to preventing tax evasion, the agreement could result in promoting maritime and air transportation.
MR/IRN83852280
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