Monetary and Banking Research Institute
Date:2/1/2020 5:10:03 PM   |   Code : 334664   |   View: 161

Smart Tax System

The head of the Tax Affairs Organization said that: "a new move aimed at modernizing the tax system of the country has begun. The need to make the tax’s system of the country smart is undeniable."

According to the Public Relations of the Monetary and Banking Research Institute and the news agency of the 9th Annual Conference on Electronic Banking and Payment Systems, Omid Ali Parsa, head of the Tax Affairs Organization, said that all transactions must be done transparently in a way that makes the tax system more intelligent. That is, no organization should, in the name of confidentiality, refrain from providing information and interfere with the transparency of its economic information.

The head of the Tax Affairs Organization said that developed countries mainly have a smart tax system. He added: "Smartening the tax system, will reduce the possibility of tax evasion and make the hidden layers of the economy transparent."

Parsa said that social costs, including education, health and various projects in different parts of the country, are covered through taxes, said: "There is no doubt that the need for social life requires paying social costs and of course costs of mandatory public service."

"There are several ways to finance the government costs and cover the country's costs," said the Deputy Minister of Economic Affairs and Finance. "Either it should be fair taxation on wealth, income and consumption, or borrowing and printing money which results in inflation. Inflation is a kind of hidden tax that exerts more pressure on the middle, lower, retired, and poor classes of society."

He said that another solution for government financing is the sale of the property, assets, and natural resources, saying: "Oil sales are the sale of the country's capital and the country's capital should be spent on developing the country's infrastructure, not to cover current costs."

Parsa added: In the past years, the country's budget was mostly oil-dependent, but under the current circumstances, we must turn the threat of slashing oil sales into a full-fledged reliance on taxes.

He emphasized that a new move aimed at modernizing the country's tax system has begun.  With the new tax system in place, tax identification is based on factual information and definitive documentation, and taxation is increasingly shifting towards pivotal justice.

Parsa reiterated: The organization is actively pursuing the modernizing of the tax system, and as a result, the status of the tax system will shift from traditional form to rigorous, reliable, accurate diagnosis and based on the realities of people's lives.

He emphasized that the realization of the smart tax system will lead the country's economy towards sustainable development.  Smartening the tax system leads to a transparent economy and a transparent economy also pursues economic justice, business improvement and economic prosperity.

Parsa said the primary goal of modernizing the tax system is to increase the efficiency and capability of the tax system through taxation based on the tax records of the taxpayers. Fairer taxation is also done with the least tension.

The 9th Annual E-Banking and Payment Systems Conference will be held at the Milad Tower Conference Hall on March 1st and 2nd this year.

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