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Iran suspends tax plan after traders protest

Iranian President Mahmoud Ahmadinejad has ordered the suspension of a new value added tax (VAT) after it sparked protests among traders in the country, Iranian media reported on Saturday.

  • Agencies
  • Published: 10:34 October 11, 2008
  • Gulf News

Tehran: Iranian President Mahmoud Ahmadinejad has ordered the suspension of a new value added tax (VAT) after it sparked protests among traders in the country, Iranian media reported on Saturday.

Ahmadinejad told the Finance Ministry to put the measure on hold for two months, newspapers reported.

The move came a few days after gold jewellery merchants and some other bazaar traders in the country closed their shops to protest last month's introduction of a 3 per cent VAT.
"This (the strike by shop-owners) has pushed the government o announce that it will review the new VAT mechanism," Iran's Press TV said.

Ahmadinejad has reportedly told the finance minister to consult with union representatives during the review process.
Bazaar shop-owners feared that the VAT would increase prices and lower demand for their products.

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