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Country Commerce Iran Product Image

Country Commerce Iran

  • ID: 2134364
  • April 2013
  • Region: Iran
  • 62 Pages
  • The Economist Intelligence Unit

As part of the EU's embargo on Iranian oil imports, sanctions were placed on Bank Markazi (Iran's central bank) and imports of Iranian petrochemical products were banned from May 1st 2012. Exceptions to the ban on dealing with Bank Markazi are granted to allow Iranian companies to repay debts and for other "legitimate" trading purposes.

As part of the 2012 National Defence Authorisation Act, the US barred from the US market any financial institution that does business with Bank Markazi, which is invariably involved in processing income from Iranian oil exports. The sanctions came into effect for non-oil related transactions in March 2012, and for oil-related transactions in June 2012. Temporary exemptions were granted through 180-day waivers to select countries, however.

In March 2013 the High Labour Council approved a minimum wage increase of 25% to IR487,125 per month. Critics, however, point out that under Article 31 of the Labour Law, annual worker wages should increase based on the inflation rate, which averaged 27.2% in 2012 and the Economist Intelligence Unit expects to average 28% in 2013.

Country Commerce Iran

Regulatory/market assessment

Regulatory/market watch

Iran's position in the global economy

Political/commercial background: Political conditions

Political/commercial background: Market conditions

Political/commercial background: Currency

Political/commercial background: State role in the economy

Political/commercial background: Foreign investment

Political/commercial background: Recent foreign direct investment

Political/commercial background: International agreements

Organising an investment: Basic investment approval

Organising an investment: Investment-approval checklist

Organising an investment: Acquisition of an existing firm

Organising an investment: Building and related permits

Organising an investment: Holding patterns

Organising an investment: Environmental law

Organising an investment: Acquisition of real estate

Organising an investment: Establishing a local company

Organising an investment: Establishing a branch

Organising an investment: Requirements of the main corporate forms

Human resources: Overview

Human resources: Labour law

Human resources: Industrial labour

Human resources: Wages and fringe benefits

Human resources: Working hours

Human resources: Part-time and temporary help

Human resources: Termination of employment

Human resources: Employment of foreigners

National incentives: General incentives

National incentives: Industry-specific incentives

National incentives: Regional incentives

National incentives: Export incentives and zones

Corporate taxes: Overview

Corporate taxes: Corporate tax rates

Corporate taxes: Taxable income defined

Corporate taxes: Depreciation

Corporate taxes: Capital taxes

Corporate taxes: Treatment of capital gains

Corporate taxes: Taxes on interest and dividends

Corporate taxes: Taxes on royalties and fees

Corporate taxes: Double-tax treaties

Corporate taxes: Intercompany charges

Corporate taxes: Turnover, sales and excise taxes

Corporate taxes: Other taxes

Personal taxes: Overview

Personal taxes: Determination of taxable income

Personal taxes: Personal tax rates

Personal taxes: Capital taxes

Competition policy: Overview

Competition policy: Monopolies and market dominance

Competition policy: Mergers

Competition policy: Freedom to sell

Competition policy: Price controls

Exchange controls: Overview

Exchange controls: Repatriation of capital

Exchange controls: Profit remittances

Exchange controls: Loan inflows and repayment

Exchange controls: Remittance of royalties and fees

Exchange controls: Restrictions on trade-related payments

Trade policy: Overview

Trade policy: Tariffs and import taxes

Trade policy: Import restrictions

Trade policy: Taxes on exports

Trade policy: Free ports, zones

Trade policy: Export restrictions

Trade policy: Export insurance and credit

Intellectual property and e-commerce: IPR overview

Intellectual property and e-commerce: Protection of intellectual property

Intellectual property and e-commerce: Intellectual-property law
Industrial designs and models

Intellectual property and e-commerce: Registering property

Intellectual property and e-commerce: Recent licensing agreements

Intellectual property and e-commerce: Negotiating a licence

Intellectual property and e-commerce: Administrative restrictions

Intellectual property and e-commerce: Forms of e-commerce

Intellectual property and e-commerce: Growth of e-commerce

Intellectual property and e-commerce: E-government trends

Intellectual property and e-commerce: Consumer protection

Intellectual property and e-commerce: Contract law and dispute resolution

Intellectual property and e-commerce: Basis of taxation

Key contacts

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