Fees & Taxes

Costs include entry, holding and exit charges, spreads, custody and any applicable tax. Some charges use traded value, others a fixed amount or asset balance. Deduct the correct cost at the correct time; do not simply subtract an annual percentage from every return. Iranian tax treatment depends on the asset, transaction and current law. Foreign investor guidance explains the effect of costs but cannot establish an Iranian tax rate. Keep an invoice, fee schedule and dated official rule with the calculation.

Worked example (hypothetical)

You pay 10 million rial plus 100,000 in entry costs, then receive 11 million minus 110,000 exit costs. Net return is 10.89/10.10 − 1, about 7.8%, rather than the 10% price gain.

Check your understanding

Does a displayed gross return include your personal tax position? Usually not. Inspect the calculation and applicable rule rather than assuming.

Sources, reviewed 5 October 2026

• How Fees and Expenses Affect Your Investment Portfolio
• Mutual Fund and ETF Fees and Expenses