Russia plans to completely abolish the VAT (value added tax) gold and thus to repatriate capital, which reaches tens of billions volume. Such intentions of the Ministry of Finance in the course of the Moscow Financial Forum said Alexei Moiseev, undersecretary of the treasury, RIA news agency “news”.
According to the Mosaic, the issue is under discussion. The country has created all conditions, to resolve it positively. There are many who want to, who would like to return their capital in Russia, invest in gold bullion, but not in the banking system. The only obstacle to this step is the value added tax.
Now all, who want to buy gold bullion in the bank, You must pay the VAT in the amount of 18%, and the next year - 20%. And, If citizens want to subsequently sell the gold jar, they will not return tax.
The Ministry of Finance before discussing the abolition of VAT on gold, while planning to do so in respect of only investment gold, instead of gold, which experts in jewelry work. However, the measure still could not provide one hundred percent barrier to gold to jewelers. In this regard, the Ministry of Finance plans to abolish the VAT on all the gold.
Kazakhstan's experience on the abolition of tax on gold bullion showed a significant increase in demand for the precious metal.
However, Alexey Moiseev noted, that while the Ministry of Finance leadership has not taken a final decision on this issue.