Cosmetics traders in Tehran's market shuttered their businesses in response to the recent hike in the country’s value-added tax.

Footage shared with Iran International depicts cosmetics shops in multiple malls closed on Monday in protest against the nation’s updated tax regulations.

The retailers also organized a demonstration outside the National Tax Administration building, where they called on their union to address their grievances.

The state-run news agency ISNA reported on the protest of cosmetic product sellers: "Since a large portion of the goods in this trade are imported through unofficial channels, no tax is paid on them. Meanwhile, official importers of the same goods pay value-added tax upon entry."

Similar strikes have been launched across the country by gold retailers and traders.

Information received by Iran International indicates that on Monday, gold jewelers in Tehran, Tabriz, Ardebil, Mashhad, and Kermanshah continued to refuse to open their shops.

Based on the newly introduced tax legislation, gold retailers are required to pay taxes on gold assets surpassing 150 grams.

Gold retailers have called for the complete elimination of the requirement to register information in the Comprehensive Trade System, which mandates that all manufacturers and sellers, both wholesale and retail, must record their transactions.

Experts say that the Islamic Republic, under the strain of international sanctions, is trying to increase its domestic revenues by collecting more taxes from various trades.

Analysts have warned that this could exacerbate inflation, which has already exceeded an annual rate of 50%, according to the Central Bank of Iran.