Russia's President Putin Cancels VAT on Gold and Other Precious Metals Investments Anna Golubova, August 22 2019, For **promotion blocked** News Excerpt:
”The law makes banking operations involving precious metals (excluding coins), as well as investments into precious metals bank accounts, to be tax-free by eliminating the 20% VAT tax. The new law, however, does not mention anything about the 20% VAT on physical purchases of precious metals.”
”Russian newspaper Izvestia estimates that in the next five years the demand for precious metals like gold and silver could surge up to 50 tonnes a year, which is an increase of 15 times from current levels.”
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