Vietnam Gold Trader Association Objects to New Proposal
"The SBV's proposal will force local firms to cut gold purity further, while possibly raising production costs."
Vietnam Gold Tradersí Association does not share the same view point with the State Bank of Vietnam (SBV) on the central bank's proposal of reducing taxable gold purity to 80% from current 99%.
The SBV's proposal will force local firms to cut gold purity further to enjoy duty-free export, yet it may result in higher production costs and a waste of social resources, the VGTA pointed out, adding that the proposed regulation may create favorable conditions for illegal gold export if gold exporters canít afford higher costs. . .View full article