Afghan Govt lowers customs valuation of Gold

KABUL (TOLO News): The High Economic Council has reduced the valuation of gold at customs from $25,000 to $10,000 per 1kg of gold, to help control illegal smuggling and increase national revenues.

Afghan jewel sellers have said that the decision will help to control illegal smuggling of gold in the country and improve the gold business.

Afghanistan is one of the big importers of gold in the region.

“After the efforts of the High Economic Council, the taxed value of 1kg gold was reduced from $25,000 to $10,000 at customs. This will also help to reduce the entry of gold from illegal ways and will increase government revenues,” said Hassan Sepahi, a gold importer.

“The decision will have a good impact on our businesses–in the past we were facing numerous problems in the imports of gold, now that the valuation of gold has been reduced at customs, this will help to control the problems,” said Zabiullah Habibi, a gold importer.

However, there are no exact figures about the amount of gold imported to Afghanistan, but jewelers say that every year Afghanistan imports thousands of kilograms of gold.

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