Iranian parliament mulls capital gains tax to control surging automotive prices

Financial Tribune – Iranian lawmakers are studying a draft bill on the introduction of a capital gains tax to control the auto market that has experienced a sharp price hike in tandem with the upward forex rate trajectory over the past few months.

“To curb soaring car prices and ease public resentment, Iranian officials and MPs have proposed solutions for regulating the market. The latest move involves a proposal to introduce capital gains tax in the auto market,” Caretaker of the Iranian National Tax Administration Mohammad Qasem Panahi told ICANA.

A capital gains tax or CGT is a tax on the profit realized on the sale of an asset. The most common capital gains are realized from the sales of stocks, bonds, precious metals and property.