PM orders to suspend gold stores failing to comply with e-invoicing rules
Electronic invoicing of gold transactions is critical due to the often small-scale, undocumented, and opaque nature of these deals.
Electronic invoicing of gold transactions is critical due to the often small-scale, undocumented, and opaque nature of these deals.
Any infringements found during the inspection would be immediately referred to the police for action, the DPM insisted.
The minimum bid amount will be reduced from 700 to 500 taels to attract more bidders.
With domestic gold prices soaring, the spread over international prices has also widened to around VND18.5 million (US$727) per tael.
Read the Hanoi Times for more updates about Vietnam.
Gold trading firm SJC and lender ACB are the two successful bidders at the auction held today.
The auction was postponed due to a lack of bidders and escrow deposits.
Domestic gold prices have surged in recent weeks amid rising geopolitical tensions.
The measures are aimed at ensuring a stable and efficient gold market.
Vietnam has so far been successful in achieving the goal of “degoldizing" the economy.