CGT: Pros and Cons

New rules on capital gains tax (CGT) were discussed by tax authorities, lawmakers and economists at a meeting organized by the Economy Ministry on Wednesday.
Outlines of the rules were approved by lawmakers in a bill in late May calling for CGT on profit from the sale of gold, gold ingots, platinum, foreign currency, real-estate and cars.
Voicing reservations about the practicality of the new tax plan, head of the Iranian National Tax Administration Omid-Ali Parsa said referred to the “arduous and complex task of tax collection” under the dire economic conditions.
“So long as there is lack of economic, social and cultural stability in the country overhauling tax rules will not work. Enforcing CGT is no exception,” he was quoted as saying by INTA’s public relations office.