With the approval of the parliament, the transfer of digital currencies will be taxed

Note 1- In the transfer of assets subject to clauses (1) and (2) of this article, which are subject to the tax subject of this chapter, “transfer tax and the right to assign the place subject to article (59) of this law” and “transfer tax subject to article (30) of the tax law” on value added (approved 02/03/1400 with subsequent amendments and additions)” is considered as a tax up to one year.

Note 2- Capital gains resulting from the transfer of assets referred to in clauses (1) and (2) of this article, which are carried out using the arrangement or execution of a power of attorney, based on the “electronic invoice for the arrangement or execution of a power of attorney” in clause (c) Article (16) of the Law on Store Terminals and Taxpayer System is subject to the tax of this chapter, and the main client or subsequent clients (executors) of the power of attorney are responsible for paying the tax. The executive regulations of this note will be prepared by the organization in cooperation with the country’s property and documents registration organization no later than 6 months after this article comes into force, and it will be approved by the board of ministers.

Note 3- After the establishment of non-commercial folders, the transactions of assets that are the subject of this article, which are outside of business activities, are only subject to the tax of this chapter and are not subject to the tax of the subject of Article (93) of this law.

Note 4- Collecting the tax subject of this chapter is subject to the establishment of non-commercial folders of the taxpayer system in compliance with the provisions of the Law on Store Terminals and the Taxpayer System, and if the aforementioned duty is not fulfilled, the organization is not authorized to demand and collect the said tax. The purpose of establishing the non-commercial folder in this chapter is to provide the necessary infrastructure by the organization so that the possibility of issuing electronic invoices by the persons subject to clause (c) of article (16) of the law on store terminals and tax system is provided. The Minister of Economic Affairs and Finance is responsible for approving the above condition.

Note 5- In the event that the income or funds received from the sale of assets referred to in clauses (3) and (4) of this article to persons subject to clauses (3) and (4) except (c) of Article (16) of the Law on Store Terminals and Systems If it is a taxpayer, the aforementioned income or funds are subject to capital gains tax, and otherwise, the total income or funds received are subject to tax under Article (124) of this law, in compliance with the provisions of Chapter Six, Chapter Three of the Law on Direct Taxes. Non-commercial persons who have purchased the assets subject to paragraph (3) of article (4) of this law directly from the persons subject to paragraphs (3) and (4) except (c) of article (16) of the Law on Store Terminals and Taxpayer System, in case of selling the assets The aforementioned to other non-commercial persons, subject to the registration of the transfer of the said property through a non-commercial portfolio or through tax-trusted companies or persons subject to clauses (3) and (4) except (c) of Article (16) of the Law on Store Terminals and the Taxpayer System only subject to are taxed on capital gains. The aforementioned registration, by including the unique tax number of the electronic invoice of the initial purchase, is in order to issue an electronic invoice, and the aforementioned electronic invoice is automatically transferred to the buyer’s non-commercial folder. The buyer is obliged to announce the acceptance or non-acceptance of this electronic invoice within 30 days from the date of inserting the electronic invoice in the non-commercial folder. Failure to comment within the mentioned period means failure to approve the relevant electronic invoice.

Note 6- The basis for calculating the purchase price of assets subject to paragraph (3) of this article with a possession period of less than 3 years is the price entered in the last electronic purchase invoice. If the acquisition period of the above asset is more than 3 years, the daily price of the said assets in the previous 3 years or the amount stated in the electronic purchase invoice, whichever is higher, is the basis for calculating the capital gain.

Note 7- The assets of paragraph (4) of this article are not subject to capital gains tax during the deposit period, if they are deposited with Iranian banks or non-banking credit institutions.

Note 8- The executive regulations regarding the manner of issuing electronic invoices for the assets referred to in clause (5) of this article will be prepared by the organization in cooperation with the Central Bank within 6 months after the approval of this article and will be approved by the Cabinet of Ministers.

How will the approval of this law affect digital currency users?

Since the executive regulations of this article will be prepared in the next 6 months and will be approved by the Council of Ministers, how it will affect digital currency users in Iran will depend on its provisions.

Mohammad Reza Pourabrahimi, Chairman of the Economic Commission of the Parliament, in response to the criticisms against this law Conversation He said to Khaneh Mellat news agency:

Tax collection in the form of the above plan will not include 99% of the people. Some are trying to prevent a clear flow in the country’s economy by creating a psychological atmosphere for this plan.

The Chairman of the Parliament’s Economic Commission stated:

In the form of this plan, we have said that every person or family can have a car according to the number of its members; It means that a family of 4 can have 4 cars and not be taxed.

Pourabrahimi noted:

Also, regarding the issue of buying foreign currency in this plan, we have said that it should not have any basis for a period of 3 years, while if a person has a foreign currency deposit, he is exempt and even the interest of the foreign currency deposit will be given to him. Also, in the field of gold reserves, we have excluded and separated up to 150 grams and the exemptions are defined in this section. In fact, the issue of this plan will not affect the general public in any way, and it is the businessmen who are trying to empty the hearts of the people by creating a psychological war in this sector.