Lawmakers Approve Outlines of Capital Gains Tax Bill

Iranian lawmakers approved the outlines of capital gains tax bill on Wednesday with 132 votes in favor, 60 votes against and eight abstentions. 
A capital gains tax is levied on the profit derived from the sale of precious metals, namely gold, gold ingot and platinum, foreign currency, real estate and cars. Notably, it is not the amount of money you receive for the asset but the gain you make that is taxed, Tasnim News Agency reported.
To calculate the gain, you compare the sale proceeds (or value of the asset at the time it was disposed of) with the original cost of the asset (or value when it was acquired), ISNA reported.