Details of the 2 urgent bill of tax on frequent transactions of real estate/dealers will be drawn

According to the economic reporter of Fars news agency, the government has taken a new decision in order to organize the market of real estate transactions.

According to the news received by Fars reporter on Tuesday, April 29, 1401, a meeting will be held with the presence of the first vice president and some ministers, including the Minister of Roads and Urban Development and the Minister of Economy regarding the organization of the housing market.

In this meeting, in order to prevent and control speculation in the housing sector, it was decided to urgently make a decision regarding the tax plan on frequent housing transactions, and after approval by the government, a two-urgent bill should be submitted to the Islamic Council.

In this regard, the Ministry of Roads and Urban Development is obliged to prepare the initial draft of the two-urgent bill for frequent housing transactions.

*Details of the initial draft of the recurring transaction tax

According to the report received by Fars, this draft was prepared in 2 articles in the Ministry of Roads and Urban Development and approved by the Cabinet of Ministers, and is currently waiting to be sent to the Islamic Council for a decision in this area.

According to Article 1 of the initial draft of the tax on frequent transactions of residential units and land with residential use, all natural and legal persons who attempt to acquire a residential unit or land with residential use by any means after the promulgation of this law, if compared to Transfer of ownership by any means to another natural or legal person in less than three years after the date of acquisition will be subject to recurring transaction tax.

The rate of this tax decreases with the passage of time from the transaction.

* How does the tax on frequent housing transactions work?

According to Fars report, for example, if someone buys a residential unit for 10 billion tomans and sells it for 20 billion tomans within a year, if the tax rate is 60% in the first year, 6 billion tomans should be paid for the difference in income. Pay taxes.

Now, if this person sells the same property three years later for the same price of 20 billion tomans, the tax rate will be reduced and he will have to pay 2 billion tomans in tax based on the assumption of a 20% rate.

Experts believe that if this type of tax is implemented in Iran, speculation will be reduced by applying the decision of the government and speculation will be prevented.

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