Gold prices rose, during the past 24 hours, by nearly 70 pounds, after the liberalization of the exchange rate and the occurrence of large jumps in the price of the dollar against the pound by nearly 20%, before Egypt reached an agreement with the International Monetary Fund, and obtained a financing package worth 3 billion dollars. and another $6 billion from international partners and the Sustainability Fund.
Gold prices today:
Carat 18 recorded 1033 pounds.
21 caliber record 1205 pounds.
24 carat record 1378 pounds.
The gold pound is 9640 pounds.
Gold Division denied
The Precious Metals Division confirmed that what was circulated about stopping work in gold shops due to the increase in prices during the past few hours is incorrect.
The division clarified, according to Ihab Wassef, head of the division, that work is proceeding normally in the gold shops in the goldsmiths and all the governorates.
From his side, Hani Milad Gayed, head of the General Division of Gold and Jewelery at the General Federation of Chambers of Commerce, announced the adoption of the division’s board of directors for the accounting agreement, which will sign an agreement with its rules with the Tax Authority, which will serve retailers and end all tax disputes for traders with retroactive effect since 2016.
Milad explained that the most important points of the agreement are to neutralize the price of gold from the tax equation and not to include the price of gold in the income of retailers or the tax base of the merchant, which determines the net tax due on him, which is what the retailer has suffered from for a long time and is a general requirement that retailers seek. Decades ago, the adoption of the net profit (workmanship only) as a tax base for the merchant to pay the tax rate.
The agreement also provides for the retroactive termination of all tax disputes for retailers since 2016 based on the new rules contained in the agreement, which are described only as equitable to the rights of traders.
Milad added that the agreement comes as a culmination of the success of negotiations that lasted for a whole year between the Division’s administration and the Tax Authority to clarify all technical points related to the working mechanisms of the retail trade of gold and jewelry to reach to neutralize the price of gold, which is no more than one of the production inputs from the tax equation for retail trade and not to be included. within the tax base of the merchant’s income.
He pointed out that the Division spares no effort to defend the interests of all traders and producers and works to overcome all obstacles that impede the smooth flow of production and trade in a manner that guarantees the interests of all parties to the commercial process, including producer, merchant and consumer, taking into account the rights of the state, and works to create continuous communication between merchants and government agencies. different; To provide a suitable and healthy commercial environment to serve the commercial life.