Iran’s Tax Organization: Buyers of Over 20 Coins Must Pay Taxes

Iran’s Tax Organization announced on Monday, June 3rd, that buyers of more than 20 coins must pay taxes starting from the beginning of year 1397.

According to the organization’s notice, buyers of 20 to 60 coins must pay 150,000 tomans per coin, buyers of 60 to 100 coins must pay 200,000 tomans per coin, and buyers of 100 to 200 coins must pay 250,000 tomans per coin in taxes.

According to these guidelines, those who have purchased more than 200 coins must file a tax return, while individuals who have purchased fewer than 20 coins are exempt from taxes.

Taxpayers must deposit this money in full by the end of June or pay it in installments over four months.

The notice adds: Those who fail to pay taxes will be subject to fines.

However, this regulation does not apply to those who have licenses to buy and sell coins.

According to the notice, those who have not yet received their pre-sold coins can seek a court ruling and file a complaint regarding the tax regulation.

Iran’s national currency has lost 70 percent of its value since the beginning of last year, and many people have purchased coins and foreign currency to preserve their rial assets.

According to official statistics from the Central Bank, 7 million 650 thousand Bahar Azadi coins were pre-sold last year. Of this number, 5 million 900 thousand coins will be delivered to customers in 1397, 1 million 340 thousand coins in 1398, and 408 thousand coins in 1399.

The price of a full Bahar Azadi coin was around 1 million 700 thousand tomans at the beginning of last year, but as of June 3rd it has reached 4 million 550 thousand tomans.

Source: Radio Farda