Tax File Number Authentication Goes Online
EghtesadOnline: The Iranian Deeds and Properties Registration Organization will electronically put at the Iranian National Tax Administration’s disposal all the information it needs to issue tax file numbers, also known as Economic Code in Iran, for real entities.
Business owners no longer need to visit INTA’s offices, a directive issued by Economy Minister Farhad Dejpasand announced, Fars News Agency reported.
“Prior to this new measure, there were 45 stages to register for tax file numbers, of which 44 could be completed in less than half an hour but the last stage, the authentication process, would take days and consequently hurt ease of doing business. In addition, business entities don’t need to secure the value added tax registration permit,” Mohammad Ali Dehqan-Dehnavi, deputy economy minister, said.
According to the World Bank’s Ease of Doing Business Report of 2020, Iran ranks 178th among 190 economies in “Starting a Business” indicator that records the number of procedures, time, cost and paid-in minimum capital required to start a limited liability company.
It takes 10.5 procedures, 72.5 days and 1.1% of per capita income to launch a company in Iran, according to WB’s flagship report.
“The online authentication process would expedite the procedure by 55 days and improve Iran’s ranking in Starting a Business sub-index from 178th to 130th and the overall place of the country in the EDB index from 127th to 115th,” Dehqan-Dehnavi said.