Switzerland taxes gold
NZPA-Reuter Berne Switzerland has begun taxing retail sales of gold coins and fine gold ingots, but inter-bank bullion transactions would not be affected. The Federal Finance Department, in consultation with the Swiss National Bank, announced a 5.6 per cent tax after retail markets Iclosed on December 31. Since 1954 gold retail sales have been exempt from taxes.
The Zurich gold bullion market would not be affected, since the bank purchasers were regarded as wholesalers.
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Press, 3 January 1980, Page 9
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77Switzerland taxes gold Press, 3 January 1980, Page 9
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