The Zakat, Tax and Customs Authority clarified that gold is subject to zero-rate value-added tax if its purity level is 99% and is tradable in the global bullion market only.
The authority indicated that if the gold purity level is less than 99%, it is subject to value-added tax, noting that gold works are subject to a value-added tax of 15% when sold by a person registered in the value-added tax system.
The Authority’s clarification came in its response to a query from a person regarding the extent to which value-added tax is applied to the purchase of used gold.
Related posts:
"Macky Sall has changed the citizen", Fatou Blondin Diop
Analysts' Recommendations for Lululemon, Celestica, and BRP: Insights and Predictions for High Marke...
Hong Kong's multi-millionaires drop sharply by 15% to 434,000 people and 70% of their assets are put...
Diesel crosses the symbolic bar of 2 euros: here are the cheapest pumps near you (MAP)
How to fix the “Privacy Commitment” error when creating a Chrome extension – Kagua! Creator Economy...
The decline has begun.. the price of gold today, Sunday (last update)
Glencore Announces Closure of Australia's Largest Copper Mine, Mount Isa Underground Copper Mine, by...
This will be important for Bitcoin this week