Clarification of the correspondence of the head of the tax affairs organization regarding the exemption of stock exchange funds
Stating that in the budget law of 1401, paragraph 2 of article 145 of the law on direct taxes, which was related to the tax exemption for natural and legal entities, has been changed, the legal deputy of the tax affairs organization said: the exemption of investment funds is related to another clause of the law. is
Saeed Totonchi, the legal and technical deputy of the Tax Agency, in a conversation with the economic reporter of Tasnim news agency, regarding the ambiguities raised in the expert circles regarding the correspondence between the head of the Tax Agency and the head of the Stock Exchange Organization regarding the exemption of investment funds from the tax on deposit interest of legal entities. He said: the deposit interest of investment funds is exempted due to the exemption of the total income of these funds according to the provisions of Note 1 of Article 143 of the Direct Taxes Law.
Note 1 of Article 143 of the direct taxes law is as follows:
Note 1- All the incomes of the investment fund within the framework of this law and all the incomes from investing in securities subject to paragraph (24) of article (1) of the Securities Market Law of the Islamic Republic of Iran approved in 2004 and the incomes from the transfer of these securities or the incomes They are exempted from paying income tax and value added tax subject to the value added tax law approved 2/3/1387, and no tax will be demanded for their transfer and the issuance and cancellation of the mentioned securities.
Totonchi further said: In the budget law of 1401, paragraph two of Article 145 of the Direct Taxes Law, which was related to the exemption of deposit interest tax for natural and legal entities, has been removed for legal entities, in the sense that all legal entities are exempt from their deposit interest tax. pay, except for some cases mentioned in the budget law.
Article 145 of the Direct Taxes Law is as follows:
The interest received in any way is exempt from paying tax in the following cases:
1. Interest related to deposits related to retirement deductions and savings of employees and workers with Iranian banks within the limits of the relevant employment regulations.
2 . Interest or rewards belonging to savings accounts and various deposits with Iranian banks or authorized non-banking credit institutions. This exemption will not include deposits that banks or authorized non-banking credit institutions leave with each other.
3. Awards belonging to government bonds and treasury bills.
4. interest paid by Iranian banks to banks outside Iran for overdrafts and fixed deposits on the condition of reciprocal transactions.
5. Profits and awards belonging to partnership bonds.
Totonchi emphasized: The legal interpretation of the Tax Affairs Organization is that the exemption of investment funds is not related to the second paragraph of Article 145 of the Direct Taxes Law, which is related to the exemption of interest on bank deposits, and is related to the note one of Article 143 of the Direct Taxes Law, as a result of the exemption of income funds. The exchange rate is still the same.
This post is written by shadmanamini