Russians increased purchases of investment gold from 5 to 75 tons in 2022
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The Russians were sold 75 tons of investment gold bullion in 2022, the Ministry of Finance of the Russian Federation told RIA Novosti. The agency refers to the information of the largest Russian banks. In 2020-2021, the volume of purchases was about 5 tons of gold and more than 8 tons of silver.
The Ministry of Finance does not provide information on silver sales for 2022. In February, the ministry reported that more than 50 tons of gold had been sold from the beginning of the year until November.
In the spring of 2022, Russia canceled VAT on the purchase of gold bars by individuals. Authorized banks were allowed to sell bullion for cash foreign currency. In the summer, the income of individuals was exempted from personal income tax when selling gold in 2022 and 2023. At the end of last year was accepted a law on the abolition of VAT on the purchase of gold bars from refineries and structures of Goznak.
On the sale of gold by factories – in the material “Kommersant” “Ingots from the manufacturer”.
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