Govt. announces new regulations to support pandemic-affected businesses
The National Headquarters for Coronavirus Control has announced the details of its new regulations approved to support people and businesses negatively affected by the coronavirus pandemic.
In its latest meeting held on Saturday, the National Headquarters for Coronavirus Control approved several new financial and regulatory packages for supporting the businesses and groups of people that have been severely affected by the restrictions imposed due to the outbreak of the coronavirus.
According to Vice President for Economic Affairs Mohammad Nahavandian, the mentioned packages include tax relief provisions, postponing the settlement of bank loans, postponing the payment of employers’ insurance share, the extension of payment of bank dues and etc.
According to the new regulations on debt settlement relief, natural persons with up to five billion rials (nearly $120,000) of dues to the banks and legal entities with up to 20 billion rials (about $475,000) of debt that were due to settle their loans by the end of the previous year (March 19) will be able to extend their deadline and pay their debts by the end of the current Iranian calendar year (March 20, 2021).
Also for those businesses in red zones that have been severely affected by the pandemic, in addition to facilities and bank loans that are paid to such businesses, the employers can also postpone the payment of their share of social security insurance by two months.
Also, all the facilities and bank loans paid to households or businesses during this period are exempted from the new laws on debt settlement and creditors cannot claim such assets in return for their debts.
Earlier in November, Nahavandian had said the National Headquarters for Coronavirus Control approved 14 financial plans to support households and businesses affected by the coronavirus pandemic.
According to the official, the support packages for households would be provided for those without fixed-income who live in red-zones.
Nahavandian noted that nearly 30 million people were expected to benefit from the mentioned support plan.
Regarding the businesses, the official noted that for all businesses, it was decided to halt the direct tax collection until January 2021, and also for issuing or renewing business licenses, natural persons or economic units would not need to obtain a tax payment certificate.
source: TehranTimes
Top News
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Families gather at South African mine shaft where hundreds are feared stuck underground
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
