Customs Duty Exemption for Importing Modern Machinery

According to IRNA’s economic desk, the Director General of Imports at Iran’s Customs Administration has issued a directive to all customs offices, stating that the import of modern machinery will be exempt from customs duties if it is used to replace worn-out machinery.

This directive is based on Clause 2, Paragraph D, Article 48 of the Seventh Five-Year Development Plan, which stipulates that “the import of modern machinery to replace obsolete equipment is permitted, provided that the machinery is not manufactured domestically or there is a shortage in domestic production capacity. This must be confirmed by the Steering Council for Knowledge-Based Technologies as defined in the Law for the Leap in Production of Knowledge-Based Enterprises.”

Accordingly, as communicated by the Export and Import Regulations Office of the Ministry of Industry, Mine, and Trade (MIMT) to Iran Customs, the eligibility of companies holding renovation and modernization permits for customs duty exemptions must also be reviewed and approved by the Steering Council for Knowledge-Based Technologies, chaired by the Vice President for Science, Technology, and Knowledge-Based Economy.