Tehran– Iranian National Tax Administration is considering tax relief incentives for domestic and foreign investors to stimulate national economy and create jobs, head of National Tax Administration Kamel Taghavi Nejad said on Saturday.

IFIF Public Relations- Due to take effect from the beginning of the new Iranian year (to start on March 20), Kamel Taghavi Nejad said that the tax scheme is based on an amendment to the direct tax law.

'The new tax exemption will go to production and service businesses to promote employment,' Taghavi Nejad added.

'An annual zero tax rate will go to the producing sector, mines and services that have 50 active employees at the time of evaluation and they plan to increase the number by at least 50 percent on annual basis,' Taghavi Nejad added.

Iran's Government spokesman, Mohammad Bagher Nobakht, has recently announced that no tax growth envisaged in the budget bill for the next year.

However, the tax income is expected to rise up by 14.4 percent next year, compared to that of the current year./s