February 27, 2019・Key Gold Headlines
Russia Considering Gold Tax Repeal That Could Significantly Boost Demand
Russia is considering eliminating its value-added tax (VAT) on gold purchases. According to a Russian paper, this could increase gold demand in the country by 50 to 100 tons per year. Russia currently charges a 20% tax on all gold bar purchases, and investors do not get the tax back when they sell their gold.