Bank Accounts Under the Microscope | Will Personal Accounts Be Subject to Tax?

Tax Organization Spokesperson Stresses That Displaying Bank Accounts in Tax Files Does Not Create New Tax Obligations for the Public, Saying the Aim Is to Identify Use of Personal Accounts for Business Activities.

The spokesman of the Tax Affairs Organization emphasized that the display of bank accounts in the tax folder does not automatically create a new tax obligation for people, and said: The purpose of this measure is to identify the use of personal accounts for commercial activities.

According to Ambassador of Arjan, Mehdi Mohadi Baknazar, the spokesperson of Tax Affairs Organization, in Ambassador Arjan TV's "Parkway" program, said about the concerns of monitoring bank accounts and the possibility of tax on personal transactions: The Law on Speculation and Speculation, which was approved and promulgated in September 1404, emphasizes, among other things, the identification of commercial and non-commercial accounts and the possibility of monitoring their financial circulation. Based on this, the sum of accounts, deposits and withdrawals of each person should be clear in such a way that it is possible to separate personal activities from commercial activities.

Referring to the possibility of some business owners using other people's personal accounts to carry out economic activities, Movahdi Baknazar said: it is possible that some people, such as doctors or goldsmiths, use the accounts of their secretaries or family members to receive funds from business activities. The purpose of implementing this mechanism is to identify such cases, not to tax people's normal transactions.

He also said about people's concern about card to card, getting a loan or depositing a gift: Conventional transactions between family members and other people do not cause problems by themselves. In the law, criteria are considered for recognizing commercial activity and every deposit or withdrawal is not supposed to be the basis of taxation.

The spokesperson of the Tax Affairs Organization continued: the very large and continuous number of deposits to personal accounts may raise suspicions of doing business; But even in such a situation, merely observing the transactions does not mean the immediate payment of the tax, and the investigation of the matter should be done based on the relevant criteria and documents.

Stating that the implementation rules of this department have not been finalized yet, he said: It is expected that the implementation of this mechanism will start from May next year. Currently, the information of bank accounts is displayed in the non-commercial folder of individuals as a test, and the completion and aggregation of information continues.

Movahdi Baknazar also emphasized: the number of people's bank accounts, even if some of them are stagnant and without circulation, does not automatically result in tax. The issue of the number of authorized accounts, if a limit is set, is related to the regulations of the Central Bank and has nothing to do with the tax department of the Tax Affairs Organization.