Putin approved private purchases of gold bars without VAT

President Vladimir Putin approved law, which cancels VAT on the purchase of gold bars from refineries and structures of Goznak. He also signed law, which allows citizens to buy jewelry worth up to 60 thousand rubles. for cash. If payment is made by card, the cost threshold increases to 400 thousand rubles.

The first law allows you to buy precious metal bars without VAT directly from refineries and structures of Goznak. At the same time, there is a condition – these ingots must remain in one of their vaults (State vault of valuables, vault of the Central Bank or bank vaults).

According to the second law, individuals will be able to sell investment precious metals for purchase. In addition, there is an additional requirement for jeweler artists in the form of work experience, and it is also planned to create a special register of jewelers.

In the explanatory note, the author of the first initiative, a deputy from United Russia, Vladislav Reznik saidthat it will contribute to the de-dollarization of the economy. In December, Finance Minister Alexei Moiseev declaredthat the volume of gold sales to the population in 2022 increased tenfold. However, according to the minister, this is not enough to replace the hundreds of billions of dollars that the Russians have “in the banks in the gardens.”

Read about the situation on the market in the material “Kommersant” “Ingots from the manufacturer”.

Laura Keffer