Reports from various markets in different cities of Iran indicate that the gold traders’ strike continued for the sixth consecutive day on Thursday, December 28.
Gold traders in Tehran, Isfahan, Hamadan, Mashhad, Qom, Yazd, Arak, Tabriz, and several other cities went on strike on Thursday, similar to the previous days.
The strike in this sector began when gold traders were required to register their information and gold inventory on the National Trade Website (NTSW). Alongside this obligation, the registration of buyers’ information in government online systems has also become mandatory. These measures collectively led to the discussion of imposing a 25% capital gains tax, eventually resulting in the strike.
On December 26, the third day of the strike, the spokesperson of the Tax Organization denied these claims and alleged that those who have been able to evade taxes for years by exploiting non-transparent and shadow economic spaces have spread rumors like a 25% gold tax.
The official IRNA news agency, while denying the implementation of a tax at this stage, implied that local taxes in this sector would be intensified and stated, “According to the latest statistics from the Tax Organization, the tax on gold traders’ earnings is zero for 34% of them, and 20% of gold traders pay approximately 50 million rials (approximately $100) in taxes annually. These figures are incomparable to the taxes paid by employees and other trades considering the profits gold traders make.”
According to IRNA, “All purchases, sales, and profit-making must be registered on the government tax website, as local taxes are levied based on this system.”
With the continuation of the strike, Mohammad-Hadi Sobhanian, the head of the Tax Organization, also reacted to the issue and stated that currently, gold is taxed like other businesses and trades based on their operational profits, and there is no new tax on the agenda.
On Wednesday, December 27, the Minister of Economy, Ehsan Khandouzi, in response to the ongoing strikes on its fifth day and its expansion to more cities, said, “There is false news circulating about the gold traders’ tax, which is not true. We do not have any new policies in this regard.”
Regarding the obligation to register information on the comprehensive trade website, Khandouzi also stated that this system is under the supervision of the Ministry of Industry, and the Minister should provide explanations regarding it.
The gold market strike has entered its sixth day today, while domestic media remained silent about it in the past days. However, today, the news website EcoIran, affiliated with the Donyay-e-Eghtesad Institute, addressed the issue in a report and wrote, “On Wednesday, the fifth day of the gold market strike, it was said that the gold markets in Isfahan, Mashhad, Kashan, Arak, and Qom are still closed.”
With the approval of Article 12 of the capital gains tax bill in the regime’s parliament, gold has been introduced as one of the targeted assets for tax collection from buying and selling profits. Some analysts believe that with increasing pressure in the tax area, a tax on the capital gains of gold will also begin.
Currently, the capital gains tax on housing and automobiles is being implemented.
