At the regular press conference for the second quarter of 2024 of the Ministry of Finance this afternoon (June 18), the leader of the General Department of Taxation answered questions related to tax management in gold trading activities.

Mr. Dang Ngoc Minh, Deputy Director General of the General Department of Taxation, said that like many other industries, gold trading activities are always under the management of state management agencies, including tax authorities.

In recent times, the tax sector has also strengthened management in this field. Typically, implementing the Prime Minister 's direction on controlling the issuance of invoices in gold buying and selling transactions, the tax sector has deployed many solutions, including the application of electronic invoices from cash registers to control gold buying and selling transactions.

In addition to strengthening tax management, the General Department of Taxation also said it is proposing non-cash payments for gold trading activities.

"Normally, people who bring a lot of cash to stores can trade gold. In the future, we recommend that gold trading activities should not use cash, but should be paid through accounts," said a representative of the General Department of Taxation.

Regarding the experts' proposal on taxing gold transactions, Deputy Minister of Finance Nguyen Duc Chi said the Ministry will accept, study and assess the impact of this proposal.

According to the leader of the Ministry of Finance, taxing gold transactions not only directly affects the trading subjects but also many other aspects. Therefore, the Ministry of Finance will have a thorough assessment and report to the competent authority.

The General Department of Taxation recommends that cashless payments for gold purchases and sales be required . The General Department of Taxation recommends that the State Bank study and submit to competent authorities regulations requiring cashless payments for gold trading transactions.