With the beginning of next July, the value-added tax due on gold imported from abroad will begin to be applied, with new values, based on a previous agreement between the Egyptian Tax Authority and the General Federation of Chambers of Commerce (the two divisions of gold, silver and platinum artifacts merchants and makers), by increasing operating (workshop) values, 10 % annually, with the beginning of the state’s general budget on July 1 of each year.
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The value-added tax is calculated on gold jewelry imported from abroad at a rate of 14% of the workmanship value of these jewelry, which is the same as the workmanship value of the local jewelry.
The value of workmanship for local gold artifacts was determined for the period from July 1, 2022 to June 30, 2023, for each gram with a value of 66 pounds of 23.5 karat gold, a value of 44 pounds of 21 karat gold, a value of 66 pounds of 18 karat gold, and a value of 55 pounds of 14 karat gold, provided that It is increased by 10% annually, which is currently applicable to the gold of Egyptians abroad.
Value Added Tax on July 1, 2023 on gold imported from abroad
The added value of 23.5 gold karat is about 10.16 pounds per gram.
The added value of 21 karat gold is about 6.78 pounds per gram.
The added value of 18 karat gold is about 10.16 pounds per gram.
The added value of 14 karat gold is about 8.47 pounds per gram.
The price of a pound of gold today is 21 karat in Egypt
Today, the price of a 21-carat gold pound in goldsmiths’ shops traded at 20,000 pounds, and the gold pound weighs 8 grams.
The price of a pound of gold today is 24 karat in Egypt
Today, the price of a 24-carat gold pound in the jewelry market reached 22,856 pounds.
--The price of a pound of 24 and 21 karat gold equals the value of raw gold without including workmanship, tax or stamp, and weighs 8 grams.
Gold prices today in Egypt (buy)
The price of 24 karat gold was recorded at 2857 pounds.
The price of 21 karat gold reached about 2,500 pounds.
The price of 18 karat gold reached about 2142 pounds.
The price of 14 karat gold was about 1666 pounds.
Gold bullion
Many banks offer gold bullion trading and investment services in all countries of the world, and gold bullion classifications differ among those who deal with them on the basis of weight, shape, or caliber.
Gold bullion prices today
The price of a gold bar weighing 2.5 grams recorded 7142 pounds.
The price of a 5-gram gold bar reached 14,285 pounds.
The price of an ounce gold bullion (31.1) grams amounted to 88,852 pounds.
These prices are the value of raw gold in the ingot, and its purity reaches 99.9%, without workmanship, value added, or stamp.
