The Iranian National Tax Administration is pushing for a legal framework for the taxation of crypto trading platforms operating in the country as per the country’s tax authority.
Iranian President Hassan Rouhani’s called for an legal framework for crypto trading and INTA reportedly detailed the necessity of legalizing digital asset exchanges in a proposal quoted by the local media.
Iranian regulators were reminded that a legal framework is required for levying taxes, INTA said that the government should only allow authorized exchanges to convert currency while keeping track of transactions.
The tax authority urged to keep the legal framework on the broader side of the spectrum to avoid harsh conditions for crypto exchanges that could cause arise in black market activity.
Tax on capital gains, fixed base tax and occupational tax are the three tax regimes on crypto trading platforms proposed by the INTA. However the proposal does not specify the mechanisms for taxing crypto businesses.
The Iranian Parliament Commission on Economy drafted a new bill to restrict the use of crypto currencies within the country while providing a clearer legal framework for miners. Crypto mining is still legal for licensed miners operating in Iran but is temporarily banned until September due to energy concerns during the hot summer months.
