25 July 2015 - 00:34
  • News ID: 244475
Tax Breaks for Foreign Tech Firms

TEHRAN July 25(Shana)--Iran's vice president for science and technology has said the country would offer tax breaks and other benefits to foreign technology first for them to set up R&D development centers in the country now that hopes are at their highest for the lifting of western sanctions following Iran's July 14 nuclear deal with world powers.

Addressing a business conference in Vienna on Friday, Sorena Sattari said, "The government would offer support for R&D investment by foreign firms, and they would be treated just as domestic firms, especially if they were exporters."

Also in the conference, Iranian Industry Minister Mohammad-Reza Nematzadeh said Iran expects to rejoin the international electronic payment system SWIFT three months after sanctions imposed on it are lifted and it will also become easier for foreign firms to take part in privatisations in Iran. 

Foreign banks would gradually be able to re-establish links with Iranian banks as the deal is implemented and the sanctions relief kicks in, the top Iranian official said speaking on the sidelines of the conference on Friday.
News ID 244475

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