Back to Business in Iran After the Nuclear Deal
Strafford Publications recently requested that I present on the topic of doing business in Iran after the Nuclear Deal. The presentation is titled Back to Business in Iran After the Nuclear Deal. The presentation will be made predominantly to attorneys and CPAs, with clients either doing business with Iran, or clients interested in doing business with Iran. The presentation will cover the Office of Foreign Asset Controls ("OFAC") sanctions in place against Iran. Additionally, the presentation will include international tax and business considerations for companies considering doing business with Iran. A description of the program is below:
With the agreement regarding Iran’s nuclear program reached in July 2015, many companies will once again be able to seek business opportunities in Iran. However, with sanctions still in place, companies must prepare and position themselves to take advantage of these new opportunities.
For example, with the second largest natural gas reserves and the fourth largest crude oil reserves, the energy industry is expected to have tremendous growth potential. However, companies and their counsel must be conscious of the litigation risks involved in going back to doing business in Iran. Returning to business in Iran may provide a way to enforce judgments in court decisions and expose companies to liability.
Despite opportunities opening up in Iran, companies and their counsel should proceed with caution. It is essential for counsel to understand the sanctions and customs hurdles and what steps are necessary for compliance. Further, counsel must understand the tax implications of doing business in Iran and plan accordingly.
Our panel will provide guidance for counsel to U.S. companies considering doing business in or with companies in Iran. The panel will discuss how to ensure compliance with sanctions and customs requirements as well as address international tax planning issues in order to take advantage of business opportunities in Iran.
We will review these and other key issues:
What business activities are permissible with respect to Iran?
What steps can companies take to promote OFAC and customs compliance with respect to Iran?
What strategies should counsel employ when addressing international tax planning in light of new opportunities in Iran?
Materials from the Presentation can be found at: http://media.straffordpub.com/products/back-to-business-in-iran-after-the-nuclear-deal-maximizing-opportunity-and-minimizing-liability-risks-2015-10-13/presentation.pdf
IRS CIRCULAR 230 NOTICE: ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN BY HARLOWE & FALK LLP TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (i) AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER OR (ii) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
Mehrdad is a partner at the law firm of Harlowe & Falk LLP. Based in the greater Seattle area, but with clients internationally, Mehrdad's practice includes international tax consulting. This includes consulting with clients on inbound transactions, outbound transactions, mergers & acquisitions, and IC-DISC....