EXPORT OF GOLD
A POSSIBLE TAX
Cabinet has, it is understood, agreed on the principle of placing an export tax on gold. Up to\the present the details have not been worked out, but it is likely that the tax will be arranged in such a manner that most of the increase in prico brought about by the higher exchange rate will be returned to the Treasury. , • Instead of the standard price of just over £i an ounce, gold is to-day bringing nearly £7 10s an ounce in ; New Zealand. At the present time, with the exception of reef gold pro■duced in the North Island, gold may be'exportcd free of duty. Due to the increased price and -the increased production, the value of gold exported last year was £706,595, as compared with. £577,612 for the preceding year. The large increase which has taken place in production in the last few months, mainly from Central Otago, /Will probably see this year/s total value ex-' ceed the million mark.
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Bibliographic details
Evening Post, Volume CXV, Issue 25, 31 January 1933, Page 8
Word Count
166EXPORT OF GOLD Evening Post, Volume CXV, Issue 25, 31 January 1933, Page 8
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