Fair for legalizing precious metals gets underway in Bangladesh

Source: Xinhua| 2019-06-25 21:51:46|Editor: xuxin
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DHAKA, June 25 (Xinhua) -- A fair has been under way in Bangladeshi capital to help businesses legalize their undeclared stocks of precious metals by paying taxes.

Bangladeshi National Board of Revenue or NBR organized the fair in capital Dhaka from Sunday, paving the way for jewelers specially to legitimize precious metals in their possession.

According to a gazette notification, businesses can get the amnesty by paying taxes of 1,000 taka per Bhori (11.664 grams) of gold, 6,000 taka per carat of diamond and 50 taka per Bhori of silver.

According to the officials, precious metals worth a total of 4 billion taka are expected to be legalized during the three-day fair which is also being held in parts of Bangladesh.

No gold ornament is seen to be exhibited though the name of the event is Gold fair.

Jewelers and their representatives are seen to throng the fair Tuesday and pay tax after filling up all relevant documents, mentioning their disclosed stocks, undisclosed stocks and payable taxes. (1 U.S. dollar equals to about 84 taka)