Thai Gold Traders Warn VAT and Tighter Rules Could Hurt Savings and Confidence

• Thai gold traders say tighter regulation and a possible 7% VAT on gold investment could hurt gold saving and weaken market confidence.
• The industry argues it is being unfairly blamed for baht volatility, saying gold trading’s impact on the currency is complex and depends on broader economic factors.
• Traders want regulators to clearly distinguish legitimate gold businesses from fraudsters and pyramid schemes without harming normal market activity.
• They warn VAT would raise costs and reduce incentives to save in gold, since gold returns come mainly from price gains, not interest.
• They urge the government to support safe gold-saving channels, possibly with incentives similar to a retirement lottery model.

Source: nationthailand.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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