The Cabinet has ratified a draft law on customs duties exemption on gold imports brought by arrivals from abroad for six months, as per a statement on May 11th.
However, travelers will still have to pay value-added tax on these imports, the statement noted.
The draft law shall not be applicable to natural pearls, cultured pearls, precious stones, and semi-precious stones.
The Cabinet’s approval comes within the framework of the country’s efforts to stabilize gold prices in markets and control gold smuggling across customs points
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