KL Jolts Bullion Trade with Duty on Gold Bars

KL jolts bullion trade with duty on gold bars

Malaysia has imposed a 10% import duty on some gold bar shipments, according to sources, disrupting the bullion trade in the country.

Malaysia follows India’s example with new 10% import duty on LBMA gold bars

(Kitco News) – After India’s recent hike of import duties on precious metals, another large Asian market has followed suit: Malaysia’s customs department has announced that they will now target gold bars with a new tax, marking the country's first-ever import duty on bullion.The new policy creates a 10% customs tax on physical gold bars meeting London Bullion Market Association standards, and it takes effect on June 8, 2026, ending the country’s…

Malaysia jolts bullion trade with 10% import duty on gold bars

Malaysia imported around US$2.5 billion of non-monetary gold through April this year Read more at The Business Times.

Malaysia imposes 10% import duty on gold bar shipments, disrupting bullion trade

Malaysia's new gold import duty could weaken its competitive edge in Islamic finance, pushing investors towards alternative gold investments. The post Malaysia imposes 10% import duty on gold bar shipments, disrupting bullion trade appeared first on Crypto Briefing.