Customs Duty Discounts for Technology Firms

EghtesadOnline: Iranian knowledge-based firms are set to be granted a 4% discount on customs duties when bringing goods into the country.

News ID: ۷۸۳۷۲۸

18 August 2018

As per an agreement signed between the Vice Presidential Office for Science and Technology and the Islamic Republic of Iran Customs Administration, knowledge-based firms are to be exempted from paying a portion of the duties levied on imported goods, IRNA reported.

In order to receive the 4% discount, firms are required to register a request on the website wms.ir. In collaboration with the ministries of industries, agriculture and health, goods which are eligible for the discount are categorized on the online platform.

If a knowledge-based company is trying to bring goods into the country which do not fall in any of the predetermined categories, the firm can request a case by case assessment, Financial Tribune reported.

Knowledge-based firms can call 43891 to get more information.

In line with the policies of President Hassan Rouhani’s administration toward weaning the country off overreliance on oil revenues, followed by a plan to invest in burgeoning knowledge-based companies, the ICT Ministry had previously drafted a bill involving tax waivers for startups and knowledge-based companies as a means to help them further flourish.

The bill was approved by the Ministry of Economy and currently awaits the Cabinet’s approval.

Last week, Vice President for Science and Technology Sorena Sattari also announced the launch of a center dubbed Tech-Export Services Corridor (TESC), which aims to facilitate the export of goods and services offered by Iranian startups and knowledge-based companies by offering marketing and consulting services to such businesses.