Many proposals have been made to effectively manage the gold market.
Today, SJC gold price is trading around 79 million VND/tael (buy) and nearly 81 million VND/tael (sell). Currently, the price of SJC gold bars is about 15 million VND/tael higher than the world gold price. After the Prime Minister's telegram on gold market management, the State Bank has completed the summary of Decree 24 based on the comments of ministries and experts. Many proposals have been made to effectively manage the gold market.
According to the State Bank's summary assessment of Decree 24, which was just completed yesterday, this agency will consider removing the monopoly mechanism of SJC gold bars, and at the same time propose to apply specific tax rates to gold bar trading activities.
Mr. Pham Thanh Ha - Deputy Governor of the State Bank said: "Only by analyzing the advantages and disadvantages, considering the conditions to be able to consider this monopoly mechanism. Recommend to the Ministry of Finance to consider perfecting the legal basis on limiting tax losses in the operations of gold trading establishments and consider the tax rate according to the recommendations of the Ministry of Public Security and the Gold Association".
It is necessary to build an intervention mechanism when there is a difference in domestic and international gold prices. This is also one of the proposals made to effectively manage the gold market.
Mr. Luong Tam Quang - Deputy Minister of Public Security commented: "We also propose to re-evaluate the management of gold molds, SJC gold bar production molds and the management plan for these gold bar production molds. SJC belongs to the State, not to SJC Company. Currently, this mold is located in Ho Chi Minh City, at SJC and the Company is managed by the Ho Chi Minh City Party Committee. When we go to survey and evaluate, looking at the production facility, we do not know whether it is equivalent to a cooperative or not."
Based on the contributions of ministries, branches and experts on effective gold management policies, many of which are close to reality, the State Bank will consider supplementing and amending Decree 24 to soon put it into effect in the near future to manage and stabilize the domestic gold market.
According to VNA
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