Over 12 Tons of Gold Exported Illegally via Airline: SBV

From May 16 to June 8, Vietnam firms illegally exported about 12,5 tons of gold, equivalent to $520million, via entry ports at international airport Noi Bai and Tan Son Nhat, the State Bank of Vietnam (SBV) said.

From May 16 to June 8, Vietnam firms illegally exported about 12,5 tons of gold, equivalent to $520million, via entry ports at international airport Noi Bai and Tan Son Nhat, the State Bank of Vietnam (SBV) quoted statistics from Authority of Information Technology and General Customs.

Some private companies exported a huge volume of gold were listed as follows: Kim Ngoc Phu Ltd (2,8 tons); Kiem Hien gold-trading shop (1,3 tons); Kim Viet gold-trading shop (over 0,7 tons); etc. , the central bank said, pressing that these firms haven’t got approval from the SBV to import gold materials in recent years.

The SBV proposed the Ministry of Finance (MoF) to cut purity of gold to 80% from current 99% to be imposed a tax rate of 10%, helping to discourage enterprises to export gold materials in form of gold jewelry.

It also suggested the MoF to improve investigation of gold jewelry quality for huge and noncurrent export volumes, check bills/receipts/certificates of origin relating to exporting packages, and regulate entry ports for export. – Stoxplus.com

Tags: vietnam gold, Vietnam gold exports, Vietnam gold market

Posted by VBN on Jul 19 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry