Proposed Gold Tax Cut to 1% After Lobbying From Industry
Gold buyers will now only have to pay a one percent tax, down from the planned three percent, after the Myanmar Gold Trader Association argued that the rate would hurt the gold market.
The one percent tax only applies to finished products such as jewellery, rather than raw gold, said U Kyaw Win, secretary of the Myanmar Gold Trader Association and owner of the Oo Hton gold shop.
