Kathmandu. Kathmandu: Nepal Gold and Silver Entrepreneurs and Kaligadh Sangharsh Samiti have staged a demonstration demanding the scrapping of the 2 percent luxury tax imposed on gold. Gold traders staged a protest at New Road in Kathmandu on Tuesday.
They have demanded the scrapping of the 2 per cent luxury tax on gold and 13 per cent VAT on diamond stones. They have demanded to formulate a clear business-friendly and consumer-friendly policy and regulations and guidelines for the trade of gold and silver.
The protesters protested with placards and slogans such as listen to us, give as much gold as we need, do not need consumer rules, the government give gold, give gold and silver laws, remove high taxes, save trade. Dasharath Ratna Bajracharya, vice-president of Kathmandu Gold and Silver Dealers’ Association, said it was impractical for the government to impose luxury tax at a time when gold and silver was becoming expensive.
He said he would continue the agitation until the vat imposed on luxury tax and gemstone was abolished.
Bajracharya, vice-president of The Gold and Silver Dealers Association, Kathmandu, said, “It is unfair for the government to impose luxury tax at a time when gold and silver is becoming expensive. The movement will not stop until the vat imposed on luxury tax and gemstones is abolished. This demand is not only of the common businessmen but also of the common consumers. We have to agitate for their welfare. Our agitation will continue until our demands are met. ’
He also accused the government of adopting the tax policy with the intention of drowning the sector which is providing employment to thousands of people within the country. Sunil Bajracharya, who has been doing gold and silver business in Bhaktapur, said that if the government imposes higher tax on gold and silver, the customers will also be hit hard. According to him, it is wrong to impose 2 percent VAT on gold and 13 percent vat on diamonds and stones.
Bajracharya, a gold and silver trader, said, “We are trying to impose 2 per cent VAT on gold and 13 per cent on diamonds and diamonds and stones. Our customers are more troubled than the gold shops. Gold is worth Rs 200,000 per tola. Adding 2 percent to it will be even higher. This hurts the customer. That’s why we are agitated. ’
According to him, it is unfair to impose VAT on diamonds and stones. The price of gold has increased by Rs 20,000 per tola in Nepal and other countries. It is the government’s weakness to make that difference. The government should start making the price of gold equal outside the country and within the country.
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