The annual car and real estate tax rates have been announced and this time the tax department is focusing on luxury car and home owners after guilds and business owners.
Before the announcement of the annual car tax rate, only the owners of businesses and guilds were required to pay taxes, but after the announcement of this news, the owners of luxury cars and luxury houses are also supposed to settle their accounts with the Tax Administration.
In the notice published by the Tax Administration regarding the annual car and real estate tax rate, the owners of luxury cars and houses have been given a one-month deadline to settle their accounts and they have been asked to settle their tax debt within a month. The government can collect such a tax by referring to clauses “X” and “S” of Note 6 of the budget law of 1400.
Read more: Car tax above 1 billion tomans; How much does the government earn from luxury cars?
How is the annual car and real estate tax rate determined?
In paragraph “S” of Note 6 of the budget law, the issue of vehicle tax collection is discussed. In this paragraph, it is stated that the non-state persons whose cars or their family members are worth more than 10 billion rials equal to one billion tomans are obliged to pay taxes.
The amount of tax will vary from one to four percent depending on the daily value of the car, and it includes all passenger cars, vans and two-room cars. Clause “X” of Note 6 of the 1400 budget law is also related to housing tax and its collection. According to the mentioned clause, all natural and legal persons who own immovable assets worth more than 100 billion Rials equal to 10 billion Tomans will be required to pay taxes.
Considering the fact that the tax includes all buildings, villas and apartments, and the tax will vary from one to five percent according to the current value of the property.
It was previously estimated that the tax revenue of the government in 1400 will be two thousand four hundred and seventy nine million rials, which shows a growth of twenty one percent compared to last year.
Since a part of this income is supposed to be paid by the owners of cars and luxury houses, and considering the increase in the inflation rate, it seems that the government’s tax income will be higher than the forecasts.
According to the statistics of the Iranian Statistics Center, the inflation rate is currently at its highest level of 54% and has reached this level in the last two months. Before the announcement of the annual car and real estate tax rate, people whose property value did not reach the threshold limit were exempted from paying tax, but due to this inflation rate, it is expected that the property value of many natural and legal persons, both movable and immovable, will be higher. to be exempted from tax exemption by lineage, and this means that the tax affairs organization will deal with more people.
According to some economic experts and critics, the increase in the value of the assets of a significant part of these owners is not the result of creating wealth and earning new income, which is a result of inflation that has arisen under the shadow of the performance of government managers.
What is your opinion about the annual car and real estate tax rate? Share your thoughts in the comments section duplicate share