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Home Vacancy Tax Revisions Approved

Vacancy Tax Revisions Approved Vacancy Tax Revisions Approved

Iranian parliamentarians approved revisions to Article 54 of Direct Tax Code on Wednesday, which would make several changes to vacancy tax with the aim of returning empty properties to use as rental homes for people.
Under the new decision, empty homes in cities with a population of over 100,000 will be taxed after four months based on their assessed rental income tax on a monthly basis.
The owners of these properties will have to pay six times more than the rental income tax in the first year, 12 times more than the rental income tax in the second year and 18 times more than the rental income tax in the third year and the following years, IRNA reported.
New homes will be subject to vacancy tax after 12 months since the end of the construction project (as per the date printed in their construction permit). The proposal also pushes the deadline for vacancy tax of new homes built as part of mass construction projects; they will be taxed 18 months after the end of their construction project.

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