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May 5, 2018 | UAE Drops VAT on Gold

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

The UAE government came under tremendous pressure by the dealers that the VAT was killing their business. The government has responded dropping the VAT (Sales Tax) on gold, diamonds, and precious metals for investors. Taxing such products is, in reality, taxing money the same as if it bought bonds or stocks. Not everyone buys stocks just as not everyone buys gold. Taxing gold and not stocks is a form of investment bias

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May 5th, 2018

Posted In: Armstrong Economics

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