BEWARE! Dubai GOLD is NO MORE THE BEST
* Customs Duty was reduced from 15% to 6%.
* Long-Term capital Gains Tax dropped from 20% to 12.5%.
* The holding period for gold to qualify as a long-term asset was cut from 36 months to 24 months.
Purchasing gold locally helps you avoid problems like mismatched designs and extra charges for adjustments. local gold purchases are anticipated to increase as a result of the shorter holding periods and reduced taxes. Additionally, this may enhance official transactions while decreasing illicit gold trafficking. Because the present rate of GST on jewellery is 3%, it is hoped that future rises won't lessen these advantages. All things considered, these changes are increasing the allure and convenience of buying gold locally.