According to experts, buying gold is the right of the people, however, recently at many gold selling points, there are people who hire people to queue up to buy gold, speculate with the goal of pushing up prices, taking advantage of the difference, causing market instability and damage to the economy.
In the context of complicated and unpredictable developments in world gold prices, the State Bank recommends that people should be cautious to avoid risks for themselves. Based on the experience of many countries in the world in managing the amount of gold transactions with people and taxing each transaction, experts have made recommendations to the State Bank.
Mr. Truong Van Phuoc - Former Chairman of the National Financial Supervision Committee of Vietnam expressed his opinion: "In the context of people buying gold for speculation and hoarding, at some point I think the State can also use tax as a tool to regulate, not only to regulate income but also to regulate consumer behavior".
"Taxing gold investment not only ensures equality among investment channels but in the current context is also one of the solutions that will create conditions for gold prices and the gold market to gradually stabilize," said Ms. Nguyen Thi Mui - National Financial and Monetary Policy Advisory Council.
Mr. Le Xuan Nghia - National Financial and Monetary Policy Advisory Council said: "Using administrative measures is not necessarily as effective as taxing. Taxing moderately so that domestic businesses can make a profit and smugglers do not benefit."
Also on June 9, the State Bank and experts discussed amending Decree 24 in the direction of considering gold as a common commodity, from which management and operation policies will be adjusted in an appropriate direction.
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