TEHRAN -- Director of an auditing company Abdulmajid Mahallati said here on Tuesday that Iran is among the ten countries with the lowest rate of income tax.

Mahallati told members of Iran-Germany joint chamber at Iran's Chamber of Commerce, Industries and Mines (ICCIM) that amendment to the taxation law has been a positive and the most important step taken in the post-Islamic Revolution era in Iran.

He expressed hope that amendment to the taxation law would, along with ample other reforms in the political, social and economic sectors, encourage foreign investment in Iran.

Meanwhile, Managing Director of Iran-German Joint Commerce Chamber Michael Tukas in an interview with IRNA on the sidelines of the meeting described the amendment to the taxation law in Iran as 'praiseworthy'.

Tukas said reforms in the taxation regulations will increase willingness among entrepreneurs to enter the Iranian market.

He said in the weeks following amendment of the taxation law, Germans have become more inclined to contribute to infrastructure projects in Iran and engage in joint investment.

He predicted that Tehran-Berlin trade volume would rise by about 20 percent by end of the year given the new conditions.

The value of Germany's exports to Iran in the year 2000 exceeded 3.063 billion marks and that of its imports from the country to 1.111 billion marks.

Iran-German Commerce Chamber with a history of 27 years of related activity has about 1,450 official and non-official members.