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Coll 28/3(2) ‘Persia. Financial situation.’ [153v] (306/817)
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
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- a —
for the taxpayer's disabled or sick father. The Commission apparently did
not consider that the disabled or sick father might have a large income and
be himself a taxpayer. Moreover, disablement or sickness is often tempo- ^
rary. The determination of disability or sickness would be administratively
impossible.
7. The Commission, on the other hand, omits our proposal to give a
deduction of 3,000 rials for each child over 18 and under 25 whom the tax
payer is maintaining at an institution of higher learning.
8. The Commission proposes the permanent exemption of Government
employees. We proposed they should be exempted during the years 1322
and 1323. During this time of rising prices, the employees need help; but,
when the war is over, prices are stabilized, and the salaries of Governmnt
employees are raised to level of other classes, their exemption from taxation
will no longer be necessary.
9. For the purpose of encouraging savings and thus combatting infla
tion. the original project provided for a deduction amounting to nine times
the total amount received as interest on savings and fixed deposits and on
bonds of the Government of Iran. Fhe Commission changes the nine to three.
In my opinion, if only three times the interest is deducted, little it au\ en
couragement will be offered to those who have money which should be
withdrawn from speculation and the free market.
10. The project written by the Commission exempts the interest paid
by a taxpayer on his debts. \\ e proposed that this deduction should apply
only in the case of companies. In the case of individuals, such a deduction
would be exceedingly difficult, if not impossible, to administer.
11. In computing the taxable income of a company, the Commission
proposes a deduction of 18 percent of its paid-in capital. We originally pro
posed 12 percent, which represents the legal limit for dividends in Iran.1 he
Commission should consider in this connection that 75 percent of our re
venue from income taxation comes from companies and that the present
law allows no deduction at all. To provide a deduction of 18 percent would
mean a very sizable loss of revenue, a loss that the Government can not
afford to suffer.
12. The project as revised by the Commission includes an entirely
new deduction: the amounts expended in maintaining the health of the la
borers and workers. Since the health of the laborers and workers contributes to
the productivity of the company and therefore to its income, I can see no reason
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.