Vietnam to raise gold export tax to 10% from zero

Vietnam’s Ministry of Finance will raise the tax on gold exports to 10% from zero effective Saturday, state media reported Thursday, citing a finance ministry document.

The Ministry Of Finance will raise the export taxes for all gold and jewelry products with at least 80% of gold from Aug. 6 to curb exports, online news provider VNmedia.vn said.

Local companies exported more than 14 metric tons of gold in June, raising the total export volume in the first half to 24 tons, it noted.

Vietnam currently only imposes a 10% tax on exports of gold products with at least 99% of gold, it added.

Source Dow Jones

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

Posted by VBN on Aug 5 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