IRAN 

India To Exempt Rupee Oil Payments To Iran From Taxation

India’s Finance Minister Pranab Mukherjee announced on 20 March that the government had decided to exempt payments for rupee denominated oil imports from Iran from any taxes, The Economic Times of India reported. India had decided to bypass US/EU sanctions on Iranian oil imports by paying up to 45% of its oil import bill in rupees (MEES, 6 February). Yet under Indian law these payments were subject to an income tax...