Starting this Saturday, the Ministry of Finance will begin to impose a 10 percent export tax on jewellery that has more than 80 percent gold content, despite objection from gold traders. The tax previously applied to jewellery containing more than 99 percent gold. According to the State Bank of Vietnam, some traders reprocessed their jewellery [...]
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 [...]
Open and market-oriented policies will put gold under control, says director Tran Trong Quoc Khanh of a gold shop of the Asia Commercial Bank. “Vietnam’s gold follows the global move. Yet there is still a gap between them as the domestic and international markets are not connected with each others,” Khanh says in an interview [...]
Dinh Nho Bang, deputy chairman of the Vietnam Gold Business Association, talked with Tuoi Tre about ways to minimise negative impacts by rising gold prices and their effect on monetary policies. He said storing gold is a common practice amongst Vietnamese in the context of high inflation and frozen stock and real estate markets. The [...]
Vietnam may impose a tariff of 10% on gold jewelry export in an effort to prevent local firms from exporting bullion under the form of jewelry products with low purity, said Ngo Huu Loi, Head of Tax Policy Department under Ministry of Finance. Vietnam may impose a tariff of 10% on gold jewelry export in [...]
Vietnam’s trade gap is expected to be low again this month at around US$200 million, thanks to gold exports, after topping the $1 billion mark in each of the first five months. Gemstones, precious metals, and jewelry exports are likely to rake in $800 million in July after fetching $806 million in June. Overall exports [...]
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