Kathmandu. Kathmandu: Gold and silver traders have staged a protest demanding the scrapping of the 2 percent luxury tax imposed on gold and silver ornaments. The traders led by The Nepal Gold and Silver Entrepreneurs and Artisandh Sangharsh Samiti have been agitating against the tax imposed by the government on gold and silver.
On Sunday, they held a rally from New Road Gate to Indrachowk Dabli. The struggle committee has demanded that the 2 percent luxury fee imposed on gold should be abolished as the law has recognized gold as a property like cash.
Similarly, they have demanded that the 13 percent VAT imposed on diamonds and jewellery should be abolished and the existing arrangement should be maintained, the act, laws and procedures related to consumer welfare, jewelry producers and artisans, businessmen-friendly gold and silver should be issued immediately, and arrangements should be made to purchase small quantity of 50 grams and 100 grams of gold pieces openly on the basis of PAN number and tax paid certificate.
The government had announced a two percent luxury tax on gold and silver ornaments through the budget for the upcoming fiscal year.
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