The Head of the National Tax Administration has issued a directive announcing the list of knowledge-based companies and institutions eligible for tax credits for research and development projects to all tax authorities nationwide.
According to IDEA, Mohammad Hadi Sobhanian, the head of the National Tax Administration, has issued a directive to implement Article 11(b) of the Law on the Growth of Knowledge-Based Production, regarding the list of companies and institutions eligible for tax credits for research and development projects. This directive has been communicated to the central tax authorities across the country. The companies and knowledge-based institutions listed in this directive generally operate in the fields of pharmaceuticals, chemical product manufacturing, engineering, and infrastructure.
Sobhanian’s directive to the central tax authorities across the country states, “The attached list of individuals eligible under Article 11(b) of the Law on the Growth of Knowledge-Based Production, project titles, and the total approved expenses for the fiscal year 1401 for the mentioned individuals, for information, operation, and necessary actions in accordance with the provisions of the implementing regulations of Article (b) of the said article, is sent.”
Furthermore, Article 11(b) of the tax provisions of the Law on the Growth of Knowledge-Based Production specifies
“The equivalent of the expenses incurred for research and development activities is granted as a tax credit with the ability to carry forward to future years to the companies and institutions applying for it. The equivalent amount is deducted from the finalized taxes of the year in which the mentioned expenses were incurred or subsequent years.
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