InternationalInternational Economics

Implementation of the permanent VAT law was key

According to the economic correspondent of Fars News Agency, the implementation of the permanent law on VAT has been key throughout the country since January 4, 2014.

The VAT law, as the first consumption tax in the country, started to work on a trial basis for 5 years in 1987, and then in the annual budgets, its implementation was extended for one year until the new law was approved in June 1400. Its permanent law came into force on Monday, December 4, 1400.

The subjects of this law are obliged to implement the new legal duties and observe the regulations subject to this law. Pursuant to the provisions of Note (2) of paragraph (a) of Article (9) of the Permanent Value Added Tax Law, manufacturers or suppliers of goods subject to this paragraph are obliged to affix the VAT exemption label on the packaging of the said goods from the date of implementation of this law. Insert.

Receipt of taxes and duties on goods and services exempted by their suppliers, according to the Permanent Law on Value Added Tax, is subject to fines equivalent to twice the taxes and duties received and can not be forgiven.

According to Fars, according to the officials of the Tax Affairs Organization, the permanent law has provided good facilities to support the production and food items of the people, and the scope of exemptions in this sector has become wider.

According to Article 9 of this permanent law, the supply of goods and the provision of the following services are exempt from taxes and duties, which was addressed in a detailed report. These exemptions include agriculture, household items, culture, services and transportation.

Also, according to this law, as of today, the original jewelry and platinum are excluded from the scope of VAT and are received only from wages, profits and commissions.

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