US EditionChinese Jewelers to Bear the Brunt of Tax Changes for Gold
8 Articles
8 Articles
China cuts gold tax exemption for some retailers which may curb buying
China has ended a tax exemption on gold sold to some buyers from exchanges, lowering it from 13% to 6% starting November 1. This policy change, effective until December 31, 2027, is expected to increase gold costs for consumers. The move comes as China experiences a significant buying spree for the precious metal.
Gold holds near $4,000 after China tax change
GOLD held around $4,000 an ounce after a weak start on Monday, as China ended a long-standing tax rebate for some retailers, said Bloomberg News. The tax change could weigh on demand in one of the world’s largest precious-metals markets, the newswire added. Bullion for immediate delivery traded little changed towards midday in London, after falling as much as one percent in early trade, it said. Beijing announced on Saturday it would no longer a…
On November 1st, the Ministry of Finance and the State Administration of Taxation of China jointly issued an announcement on gold tax policy, clarifying that gold purchased through non-exchange channels carries a relatively high tax burden, leading to increased costs for gold jewelry and triggering a strong reaction in the capital market. In both offline and e-commerce channels, many brands of investment gold bars either removed them from shelve…
The price of gold is once again robust – despite China's turbulence. After the surprising tax change in the People's Republic, which is likely to increase the price of gold, gold remains above the $4,000 per ounce mark. Investors and markets are now watching closely whether China's intervention causes only a short-term dent – or the recent recovery is slowing down. Gold price is [...] The post Gold price is around $4,000: China shocks with tax c…
Coverage Details
Bias Distribution
- 67% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
