Russia will abolish the VAT (tax) on bullion

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News Date: March 3, 2022

The government will abolish the VAT (tax) on bullion.
This Bill will go to the State Duma on March 4.
Going forward - when purchasing gold bars or other precious metals from a bank, the 20% current tax on top of its value will not apply.
This is a way to ensure people can invest securely in something other than the dollar (usually people hold their cash in dollars as the ruble is volatile.)
PM advises foreign businesses that competitors will take their place.
This is a step toward treating gold and silver as money instead of as commodities.
Source: t.me

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