Iran To Sign Tax And Investment Agreements With Iraq And Ghana

by Lorys Charalambous, Tax-News.com, Cyprus

07 December 2005

In separate directives issued in Tehran on Monday, the Iranian Cabinet authorized the Economy and Finance Ministry to sign tax and investment agreements with neighbouring Iraq and the African state of Ghana.

With Iran and Iraq having declared their common desire to bolster bilateral economic and trade relations, the ministry has been authorized to ink an agreement for support and promotion of joint investments with Iraq, according to the Islamic Republic News Agency.

The cabinet has also authorized the ministry to draw up documents providing for the reciprocal removal of double taxation on investments and income by Iran and Ghana.

The agreements stipulate that the governments of the countries involved finance private companies doing business in their territories thereby making them partners in economic development.

Iran has signed agreements with 34 countries for the removal of double taxation on trade and investments. The Islamic Republic has also signed agreements with 48 nations encouraging joint trade and investments.

IRNA also reported that the head of the Kermanshah Chamber of Commerce Me'raj Mehrabi-Movaqqar, stated on Monday that 250 Iranian companies participated in the Kermanshah International Exhibition on Reconstruction of Iraq held in November. The four-day fair was aimed at assisting the Iraqi reconstruction effort while facilitating trade and investment.

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