Austria Seeks Tax Agreement with Iran

In a meeting with Iran’s foreign minister in Tehran on Sunday, Schelling said he has visited Iran with the purpose of boosting bilateral economic and financial relations.

Voicing Austria’s eagerness to develop joint training programs with Iran in the banking industry, Schelling hoped he would nail down investment deals and a double tax agreement (DTA) during his stay in Iran.

A DTA addresses taxation issues arising in relation to the flow of business and any movement of people between two countries and helps businesses and individuals to avoid having to pay taxes in both places.

For his part, Iranian Foreign Minister Mohammad Javad Zarif expressed Tehran’s enthusiasm for growing links with Vienna in all fields.

He also hailed Austria as the European country with which Iran enjoys the strongest banking interaction.

In September 2015, Austria’s President Heinz Fischer visited Iran to become the first head of a western state visiting the Islamic Republic after achievement of the Joint Comprehensive Plan of Action (JCPOA), a nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

Heading a high-ranking delegation of economic, scientific and cultural officials, Fischer held several meetings with Iranian officials including Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei.