Loading ...on GOLD TAXES in INDIA ..they seem to range from 0 to over 10 % ..The Government has trouble collecting taxes from people with no discernible income and NO bank account.
The Indians use Gold as Currency,gold chains are popular as you can cut off a link and sell it when you need to barter……So they tax gold until gold stops flowing in…that means people have buying power and GOLD is what the Goverment watches as Indians are the biggest Gold buyers in the world.. Usually February is when they set the Gold TAX rate…JEWELERS are the first to complain about the TAX as sales on Jewelry drop fast when Government taxes too much.. ..Jewelers want the rate down to 4 %. to stimulate the GOLD based economy…Things most Gold BUGS dont know ! and watch the wedding season ! June (I think) People demand low Gold tax as it approaches…Gold Gifts are customery..NOW you know !