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Tax chiefs of S. Korea, Iran discuss ways to bolster cooperation

All News 16:00 February 07, 2017

SEJONG, Feb. 7 (Yonhap) -- Tax agencies of South Korea and Iran agreed to join hands to strengthen tax administration and economic cooperation between the two countries, the Seoul government here said Tuesday.

South Korea's National Tax Service (NTS) Commissioner Lim Hwan-soo has held a meeting with his Iranian counterpart Seyed Kamel Taghavi Nejad in Tehran to ink a deal on bilateral tax administrative cooperation, according to the NTS.

It is a followup meeting of the previous Lim-Nejad meeting in Seoul last year, as the two countries have been intensifying economic exchange following the lifting of international sanctions against the Middle East country.

The two tax heads agreed to create a business-friendly environment in terms of taxation in order to boost bilateral trade and investment.

Following the landmark nuclear deal with Iran in 2015, the international community lifted its blanket sanctions imposed on Iran in the following year.

Trade between South Korea and Iran reached US$8.36 billion last year, up from $6.09 billion tallied a year ago.


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