Revised VAT for Gold, Jewelry

New regulations governing value added tax on gold trade will come into effect in January, the vice president of the Tehran Gold and Jewelry Union said.
Mohammad Kashti-Aray told the state broadcaster IRIB that the new rules are expected to improve gold trade because “prices would be more attractive.”
As per the new regulations, VAT on gold trade will be levied on service, profit and fees charged by jewelers. In short, the original value of gold will no longer be taxable.