Legalize Cryptocurrency Exchanges, Says Iranian Tax Authority To Legislators
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The Iranian National Tax Administration (INTA) has just proposed to tax digital asset exchanges operating in Iran. The authority urged the lawmakers in Tehran to legalize cryptocurrency exchanges out of fear that it could negatively impact tax collection.
Legalizing crypto exchanges is necessary [for levying tax]. Legal operations must be limited to authorized exchanges that are allowed to convert currency while keeping track of transactions.
Iranian National Tax Administration
The tax administration also believes that rigid regulations on crypto exchanges could only cause more harm than good, as well as promoting the growth of a black market.
The INTA added that regulations should penalize entities that do not provide their users’ records for tax purposes.
The tax agency has suggested to apply three tax regimes to crypto trading platforms — “tax on capital gain, fixed base tax and occupational tax.” The proposal did not explain the taxing mechanisms in greater detail.
The authorities in Iran has been trying to keep crypto-fiat trading on a tight rein. Even though banks and moneychangers were permitted to process cryptocurrency minted by licensed miners within the country, in order to pay for imports.
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