Russia: gold ingots to be exempt of VAT

The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…

Russia: Ametistovoye becomes Kamchatka ADT resident

The company Ametistovoye has received the status of the Kamchatka Advanced Development Territory resident. The reason was the signing of an investment agreement valued at 4 billion rubles with the Far East Development Corporation. The company intends to construct a mine and modernize a mining and processing works at the Ametistovoye gold deposit. The project…