Gold Coin Tax Rules Outlined

Taxing gold coins should not push up prices of the yellow metal because the tax is to be levied on wholesalers who pre-purchased coins from the Central Bank of Iran, says the president of the special gold commission at the Iran Chamber of Guilds.

Financial Tribune- Mohammad Kashtiaray said tax won’t be levied on retail purchases, adding that it particularly targets those buyers who purchased gold coins in 2017-18.
“If this group of buyers sells the coins, they will make a fat profit that will be taxable,” the parliamentary news website ICANA quoted him as saying.
On Saturday each benchmark Emami gold coin was sold for 45.45 million rials ($348) while the Bahar Azadi coin was worth 44.93 million rials ($345).

Publish Date: Jun 9, 2019