Tax break ends for life insurance

Financial Tribune – Life insurance henceforth will not be tax exempt, the head of Iran National Tax Administration told reporters following a meeting with Iranian Insurers Syndicate.

“Today I had the opportunity to find out more about the challenges the insurance sector is grappling with. It needs mention that the domestic system also has its own challenges. Everyone in the country is looking for a tax break,” quoted Omid Ali Parsa as saying on Sunday.

The meeting was held following the release of a draft of a tax reform plan last week in which life insurance policies have been omitted from the list of businesses exempt from paying tax.