The Iranian National Tax Administration collected 430 trillion rials ($826 million) during the first month of the current fiscal year (started March 21), 49% more than in the corresponding period of last year, according to the INTA chief.
“Direct taxes amounting to 190 trillion rials [$365 million] and tax on goods worth 240 trillion rials [$461 million], including value added tax, accounted for 44% and 56% of total tax collections during the period,” Mohammad Hadi Sobhanian was also quoted as saying by IRNA.
INTA announced this week that all takeaway restaurants and coffee shops will be entitled to VAT as of June 22.
Also, Capital Gains Tax, which had been the topic of many discussions for a long time, was finally approved by the parliament. CGT is a component of income tax levied on the income from the transfer of movable or immovable capital assets, tangible or intangible. The purpose of this type of tax is to regulate the activities of various economic sectors, limit speculative practices, increase government revenues, create social justice and reduce income gap.
Some radical supporters of this type of ta, even talk of its effect on bringing down inflation, stabilizing the foreign currency market and increasing investment and economic growth.