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Coll 28/3(2) ‘Persia. Financial situation.’ [154r] (307/817)
The record is made up of 1 file (407 folios). It was created in 7 Sep 1938-1 Jan 1946. It was written in English and French. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .
Transcription
This transcription is created automatically. It may contain errors.
— 9 —
for tliis deduction. Furthermore, it would be, in my opinion, impossible to
administer.
13. Hie Commission proposes a serious alteration relative to the com
putation of the expenses of partnerships. \\ e proposed that “reasonable
amounts paid to the partners for services rendered to the partnership ’ should-
be considered necessary expenses of the partnership. The Commission
project omits the word “reasonable" and requires that all amounts paid to
the partners for services rendered should be deemed necessary expenses.
Such a provision would permit the partners to pay all of the profits to
themselves in the form of salaries. The result in practice would be that
little if any taxes could be collected from partnerships.
Rates. The Commission leaves the rates proposed by us unchanged
on incomes up to 160,000 rials. These rates in our project were made sub
stantially lower than in the present law, in order to give relief to the mid
dle classes. What the Commission has done with the rates on the higher in
comes is shown in the following table. These rates are. of course, levied
only on increments of income, not on the total income.
Original
project
Commission project
Incomes
Hates
Incomes
Kates
140,000-160,000
25 <7o
140,000-200,000
25 0 / 0
160,000-200.000
35
200.000-250,000
30
200,000-230,000
45
250,000-350,000
35
250.000-300,000
55
350,000-450,000
40
300,000-350,000
60
450,000-500,000
45
350,000-400,000
. 65
500.000-600,000
55
400,000-500,000
75
600.000-700,000
65
Over 500,000
80
700,000-1,000,000
70
Over 1,000.000
80
If the project were to be passed with the rates proposed by the
Commission, my estimate is that less revenue would be produced by the
new law than by the old one. If, in addition, the new law were to include
the exemptions and deductions already accepted and proposed by the Com-
mision, the new law would be absolutely worthless.
Administration. 1 have already mentioned certain provisions pro
posed by the Commission which would be administratively difficult, if not
impossible. The following additional changes seem to me to be adminis
trative impracticable.
About this item
- Content
Papers reporting on the financial situation in Iran, sent by staff at the British Legation at Tehran (Horace James Seymour; Reader William Bullard) to the Foreign Office, London. The file is a direct chronological continuation of Coll 28/3 ‘Persia. Financial situation’ (IOR/L/PS/12/3394).
The file includes:
- Covering letters enclosing copies of the monthly Bulletin , produced by the Bank Melli Iran (also referred to as the Mellié Iran Bank, and Banque Mellié Iran). The copies of Bulletin are not included in the file (although some front covers do survive), however the covering letters give short summaries of their lead articles.
- Details and estimates for Iran’s annual budgets, with numerous statistical tables.
- Correspondence dated December 1939 to February 1940 relating to irrevocable documentary confirmed credits (irrevocable letters of credit) opened by Bank Melli Iran through banks in India (ff 356-361).
- Copies of laws passed by the Iranian Parliament, including a law relating to war credits and treasury bills (in French, f 334), a Law for the Prevention of Hoarding (ff 325-329) and an Income Tax Law (ff 262-271).
- Correspondence and budget reports dated 1943-1944, produced during the takeover of the administration of Iran’s Finance Ministry by a mission from the United States, led by Arthur Chester Millspaugh.
At the front of the file (ff 4-200) are fourteen monthly reports of the Administrator General of the Finances of Iran (Millspaugh), produced according to the Solar Hijri calender, and dating from Ordibehesht 1322 (equivalent to the Gregorian calendar date of 22 April to 22 May 1943) to Mehr 1323 (23 September to 22 October 1944). The reports, which also contain lists of staff of the Iranian Ministry of Finance and its connected organisations, summarise Iranian finances. Many of the reports contain a map of Iran (for example, folio 185), showing borders, roads and railways, major towns and cities, and districts, which are numbered 1 to 10.
- Extent and format
- 1 file (407 folios)
- Arrangement
The papers are arranged in approximate chronological order from the rear to the front of the file. The file’s correspondence begins at folio 202 and ends at folio 407. Printed reports occupy the front portion of the file (with an enclosing note, ff 4-201), and are also arranged in reverse chronological order.
- Physical characteristics
Foliation: the foliation sequence for this description commences at the inside front cover with 1, and terminates at the last folio with 408; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. A previous foliation sequence, which is also circled, has been superseded and therefore crossed out.
- Written in
- English and French in Latin script View the complete information for this record
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Copyright: How to use this content
- Reference
- IOR/L/PS/12/3396
- Title
- Coll 28/3(2) ‘Persia. Financial situation.’
- Pages
- 187r:200v, 176r:186v, 162r:175v, 149r:161v, 138r:148v, 126r:137v, 109r:125v, 84r:108v, 68r:83v
- Author
- Bank Melli Iran
- Usage terms
- The copyright status is unknown. Please contact [email protected] with any information you have regarding this item.