In an interview with Rokna information company on Friday, December 29, Vahid Azizi, Director General of the Office of Inspection, Combating Tax Evasion and Money Laundering of the Tax Affairs Organization of the Islamic Republic of Iran, introduced that the CEO and members of the board of administrators of a financial institution in Iran have been banned from leaving the nation. The particular financial institution was not talked about, however Azizi acknowledged that that they had been banned from leaving till additional discover as a consequence of a criticism about offering data on suspicious financial institution transactions to the Tax Administration.
Article 202 of the Law on Direct Taxes permits the Ministry of Economic Affairs and Finance or the Tax Administration to stop tax debtors with money owed larger than ten million Rials from leaving the nation. Azizi additionally reminded different banks and credit score establishments in Iran to supply data on financial exercise inside the specified time or face joint accountability for potential tax evasion.
This marked the primary time in current months that the Islamic Republic of Iran’s Tax Affairs Organization has prosecuted financial institution managers for non-cooperation in offering data. The International Transparency Organization ranked Iran 147th on the planet for monetary transparency and corruption, evaluating the extent of corruption to international locations similar to Lebanon, Nigeria, Mozambique, and Madagascar.
Reports of financial institution corruption in Iran, together with giant loans paid to financial institution managers and the merger of Noor Credit Institution with National Bank of Iran, have additionally made headlines. These incidents have raised issues about liquidity progress, inflation, and financial issues within the nation.