Rules Separating Personal, Commercial Bank Accounts Are in the Final Phase
EghtesadOnline: An estimated 8.3 million POS terminals have been connected to the tax network so far. Bank accounts connected to the gateways are recognized as business accounts and money passing through the terminals are automatically taxed.
Regulations for separating personal and commercial bank accounts will be finalized this week, the Iran National Tax Administration (INTA) said.
Mohammad Hadi Sabahian, the INTA head said, “More than 178,000 personal accounts involved in commercial activities have been identified, though their owners had not listed them as such. They have been abusing the system to evade taxes,” IBENA quoted Sabahian as saying on Tuesday.
Per law all banks must join the new system by June 22. According to an announcement by the Central Bank of Iran, so far 24 banks have joined the account separation plan and the remaining six are set to join by the deadline.
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