Iranian National Tax Administration imposing tax on gold coin owners

TEHRAN, Iran, Aug.14

Trend:

Iranian National Tax Administration is imposing tax on gold coin owners that have purchased from 10 to maximum of 185 gold coins from the Central Bank of Iran during last Iranian year (from March 21, 2019 through March 20, 2020).

The administration announced the new regulation that will cover individuals that have purchased gold from the Central Bank of Iran should state it in their tax declaration, Trend reports citing IRNA.

The payment deadline is August 21.

The buyers should declare their gold coin purchases online at tax administration website, said the report.

The individuals that have purchased 10 to 30 gold coins should pay 2 million rial (about $47) per coin, the owners of 30 to 50 coins should pay 5.6 million rial (about $123), and the individuals that purchased 50 to 185 gold coins should pay 6.5 million rial (about $154) per coin to the Iranian National Tax Administration.

Individuals that have purchased more than 185 gold coins or business owners that trade gold coins are not subjected to this regulation.