IFP Exclusive

Business owners in Tehran, Arak rally against tax rise plan

A group of home appliance shop owners hold a protest in downtown Tehran against a plan by the Iranian Ministry of Finance to levy tax on their banking transactions.

They are also angry at tax on their shops which they say show a multi-fold rise compared with last year.

Footage posted online shows some businessmen shouting chants after closing their shops in protest and demanding others follow suit.

Also in the central city of Arak, some 200 businessmen of the city’s bazaar gathered outside the tax department for a rally.

READ MORE: Iranian economists warn about consequences of government policies

The new tax plan was put in place to prevent tax evasion and reduce the printing of money without backing. If approved, the plan will require the levy of tax on transactions that are worth more than 5 billion tomans.

Some say the businesspeople of Tehran and other cities are angry because of a rise in the dollar exchange rates.

Experts say the rise in the rates are due to psychological effects.

The Iranian Central Bank says it has increased supply of the US dollar to the market to control the exchange rates.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

“Iran Hamdel” campaign sends aid to Gaza amid war

Aid items donated by millions of Iranians within a national campaign, have reached the beseiged…

12 hours ago

Iranian deputy FM: Cooperation with Saudis serves as a successful model for fostering peace and security

Iran's Deputy Foreign Minister Majid Takht Ravanchi has said Iran and Saudi Arabia are committed…

12 hours ago

Official: Iran responds to IAEA resolution with increased nuclear enrichment capacity

Behrouz Kamalvandi, the spokesperson for the Atomic Energy Organization of Iran (AEOI), says the organization…

14 hours ago

Pictures: Demonstrators in Tehran support people of Gaza, Lebanon

Hundreds of people gathered in Tehran on Friday morning in front of the United Nations…

14 hours ago

Int’l lawyer: US plans to sanction countries cooperating with ICC on Netanyahu arrest

An international law expert and analyst has revealed the U.S. plans to impose punitive measures…

17 hours ago

Minister of science: 25% of Iranian university professors emigrated due to economic challenges

Iran’s Minister of Science, Research, and Technology, Hossein Simayee Saraf, addressed on Thursday academic migration…

17 hours ago