Double Taxation Avoidance Agreement inked between Iran, Finland

February 8, 2022 - 15:16

TEHRAN - Iran and Finland have signed a Double Taxation Avoidance Agreement (DTAA) as the two countries are seeking the expansion of trade and business ties, Iranian Finance and Economic Affairs Ministry's news portal Shada reported.

The DTAA deal was signed on Monday during a visit of Finnish Foreign Minister Pekka Haavisto to the Finance and Economic Affairs Ministry where he met Iranian Economy Minister Ehsan Khandouzi.

During this meeting, Khandouzi expressed dissatisfaction with the current level of trade between the two countries and said the DTAA could enable Iran and Finland to restore their economic relations to the pre-sanction levels.

“We believe that the economic relations between Iran and Europe should not be limited to the three European powers (Britain, France, and Germany), and our serious belief and desire is to be able to enter into wider economic interactions with all the European countries, especially Finland,” the minister said.

He further hailed the humanitarian stances adopted by Scandinavian countries like Finland, saying Iran hopes to increase its imports of pharmaceuticals from the country as a result of signing the mentioned agreement.

Haavisto, for his part, underlined his country’s booming relations with Iran and said that senior government authorities in the country are keen on expanding bilateral ties.

The Islamic Republic of Iran has so far concluded 51 agreements with other countries to avoid double taxation, and several such agreements are also ready for official signing in the near future.

The treaty with Finland comes amid Iran’s efforts to provide certainty for business and trade activity and to strengthen economic ties with the rest of the world as the country uses increased trade revenues to offset the impacts of American sanctions on its crude exports.

Haavisto also met with Iranian Foreign Minister Hossein Amir Abdollahian on Monday, during which the two chief diplomats discussed bilateral relations.

The officials said the level of trade between the two countries is unsatisfactory.

EF/MA

Photo: Iranian Economy Minister Ehsan Khandouzi (R) meeting with Finland’s Foreign Minister Pekka Haavisto in Tehran on Monday

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