Iran and Libya Sanctions Act: response to Iranian gas deal may affect future investments

Article Abstract:

The planned $2 billion investment in Iran's offshore South Pars natural gas field by Total, Gazprom and Petronas, has aroused doubts about the efficacy of the US's Iran and Libya Sanctions Act of 1996 (ILSA). The ILSA, which aims to cut extensive foreign investment in Iranian and Libyan oil and gas projects, is applicable to American firms as well as non-US companies. The US government has initiated an inquiry to determine the financial details of the investment, before deciding whether sanctions are warranted on the three firms.

Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Oil & Gas Fields, Trade Bans & Embargos, Planning, Economic sanctions, Sanctions (International law), Natural gas fields, Oil fields, OAO Gazprom, TOTAL S.A., Gas fields, Embargoes, Petroliam Nasional Bhd.

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Doing business in Iran: taxation and accountancy

Article Abstract:

An array of taxes applies to foreign businesses and people who operate in Iran as well as to Iranian businesses and citizens who operate outside the country. These taxes include a company tax, a corporate income tax, a municipal tax, social security charges including payroll taxes, a possible value-added tax and Ministry of Labor charges. Tax exemptions are available as for factories that are built in designated areas. Accounting and auditing rules should be understood and followed.

Taxation, International business enterprises, Multinational corporations, Tax policy

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Guide for doing business and investing in Iran

Article Abstract:

Information on foreign investment opportunities in Iran is provided. Hard currency gained from activities such as direct sales and foreign banking can be transferred out of Iran.

Foreign Investment Regulations, Foreign investment laws

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