Economy, Business And Markets

Windfall Taxation on Gold Coin, Forex Trading

Windfall Taxation on Gold Coin, Forex TradingWindfall Taxation on Gold Coin, Forex Trading

Government is to levy taxes on gold coin and foreign currency buyers who benefited from windfall profits amid the recent volatility in the two markets, the economy minister announced on Monday. 
Masoud Karbasian, who announced the news on his Instagram page, said the move is in line with recent developments and President Hassan Rouhani’s order to promote transparency. 
The recent volatility in the foreign exchange and gold coin markets was accompanied by a series of revelations about widespread rent-seeking and abuse by recipients of cheap currency who made astronomical profits in these markets. 
Earlier this month, Tehran Police Chief Brigadier General Hossein Rahimi told reporters that his forces tracked down a person who had bought two tons of gold coins through the Central Bank of Iran’s presale scheme that offered gold coins at attractive prices. 


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