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Iran, Hungary discuss signing double tax avoidance agreement

Iran, Hungary discuss signing double tax avoidance agreement

The first round of talks for signing a double tax avoidance agreement between Iran and Hungary was held between the two countries’ tax officials.

The three-day negotiations were held from June 15 to 17 in the meeting hall of the Iranian National Tax Administration (INTA), the IRNA news agency reported on Monday.

The main purpose of the agreement is to avoid taxation of income in both the countries and to promote and foster economic trade and investment between the two countries.

Iran exported $3.5 million worth of non-oil products to Hungary and imported $10 million worth of non-oil goods from the European country in the Iranian calendar year of 1392 (March 2013-March 2014).

In a meeting between Iranian President Hassan Rouhani and Hungarian Foreign Minister Peter Szijjarto on May 18 in Tehran, Rouhani said Iran is ready to expand political, economic and cultural relations with Hungary.