Parliament Gives Nod to Capital Gains Tax in Controversial Move
EghtesadOnline: With the country going through its fourth currency crisis and multiple increases in the prices of assets compared with the beginning of the 2010s, which saw the onset of sanctions, perhaps the introduction of CGT is not unexpected.
Capital Gains Tax, which had been debated for a long time, has been finally approved by the parliament.
CGT is a component of income tax, levied on income from the transfer of movable or immovable capital assets, tangible or intangible. The purpose of this tax is to regulate the activities of various economic sectors, limit speculative practices, increase government revenues, promote social justice and reduce income gap.
Some radical supporters of this type of tax speak of its likely effect on bringing down inflation, stabilizing the foreign currency market, increasing investment and economic growth.
Amirmohammad Galvani, an economic expert prefaced the editorial for the Persian daily Donya-e-Eqtesad’s Tuesday edition with this note.
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