Gold orders drop due to purchase tax

Since the government started to collect tax on gold purchases on April 1, orders at workshops and goldsmiths have dropped. Goldsmith Ko Naung Naung from Chan Mya Tharsi township, Mandalay Region, said the downward trend was worrying because in the past, jewellers would make orders for three ticals (five ounces), but now they make just one. “It is normal for orders to drop after Thingyan water festival but the situation is getting worse. All the workshops are experiencing this.

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