Impact of Taxation on Gold Set to Be Hot Topic at Dubai Precious Metals Conference

Press release
Published March 13th, 2018 - 06:49 GMT
Gold jewellery represents the largest source of annual demand for gold per sector.
Gold jewellery represents the largest source of annual demand for gold per sector.

DMCC, the world’s leading Free Zone for commodities trade and enterprise, is set to hold an in-depth discussion on "The Evolution and Impact of Taxation on Gold" and "Challenges in the Jewellery Sector" on the first day at the 7th edition of the Dubai Precious Metals Conference.

In India, the government imposed a 5% customs duty on gold jewellery last year. And in the UAE, a 5% VAT rate has been imposed on gold jewellery since the start of 2018. What are the implications of these taxes and how are they impacting the gold market? These, and other issues, will be tackled in depth on the first day of the conference.

The first panel will be moderated by presenter and business journalist Richard Dean, and the panellists include Mr. Chandu Siroya, Vice Chairman, Dubai Gold and Jewellery Group (DGJG); Mr. Hakan Aytekin, Deputy Director - Precious Metals and Diamond Market, Borsa Istanbul; Mr. Albert Cheng, CEO, SBMA; and Mr. Bhargava Vadiya, of BN Vaidya & Associates.

Mr. Vadiya says: "I am delighted to be taking part in this very important debate. I am sure it will be one of the most keenly awaited at the conference. I congratulate the conference organisers on selecting it as one of the large issues to be debated as it really is critical. I am very much looking forward to hearing views on this vital subject."

Meanwhile, jewellery experts from across the world will be on hand to discuss Challenges in the Jewellery Sector. Gold jewellery represents the largest source of annual demand for gold per sector. Although this has declined over recent decades, it still accounts for around 50% of total demand, says the World Gold Council. India and China, of course, are by far the largest markets, in volume terms, together accounting for more than half of global gold demand. The Asian and Middle Eastern markets are dominated by demand for purer, high-quality gold.

How do policy changes, geopolitical situation, taxation, changing preferences of millennials, finance availability & costs affect the gold jewellery sector? Are changes temporary or permanent? These questions will be addressed by industry players who are dealing with these and other questions on a daily basis.

The panel will be moderated by Mr. Chandu Siroya, Vice-Chairman of the Dubai Gold and Jewellery Group, and will include, among others, Mr. Tawhid Abdulla, Chairman, DGJG, and Mr. Sandeep Kulhalli, Senior Vice-President, Retail & Marketing - Jewellery Division, Titan.

Chandu Siroya, Vice-Chairman of the Dubai Gold and Jewellery Group, said: "Clearly, the jewellery industry is a major element in the overall gold sector. The challenges the industry jewellery sector faces are set to create a very interesting debate session."

Other sessions will look at Responsible Sourcing – Expectations and Reality, Bullion Banking: The Road Ahead, the Role & Future of Global Exchanges.

The DPMC is being held at The Westin Hotel, Habtoor City, Business Bay. For more details and registration, please visit: http://www.dpmc.ae/.

Background Information

Dubai Multi Commodities Centre Authority

DMCC is a government entity established in 2002 to enhance commodity trade flows through Dubai. We perform a range of roles which continue to position Dubai as the preferred destination for global commodities trade and DMCC as the world’s No.1 Free Zone.

القاهرة: مخترق حساب المستشارة مروة بركات من عناصر "لواء الثورة"

Published February 23rd, 2019 - 11:35 GMT
مخترق حساب المستشارة، مروة بركات، عنصر من عناصر جماعة لواء الثورة الهارب إلى تركيا
مخترق حساب المستشارة، مروة بركات، عنصر من عناصر جماعة لواء الثورة الهارب إلى تركيا

كشف مؤسس "الجيش المصري الإلكتروني"، الرائد خالد أبو بكر، في تصريح لقناة "RT" أن مخترق حساب المستشارة، مروة بركات، عنصر من عناصر جماعة لواء الثورة الهارب إلى تركيا، بلال حسام.

وأشار أبو بكر إلى أن بلال حسام من أخطر الهاكرز المنتمين لحركة "حسم"، مضيفا أن خروجه من مصر رغم خطورته يعد "تقصيرا يجب محاسبة المسؤول عنه، خاصة أن له ارتباطات قوية بالأذرع الإعلامية لجماعة الإخوان المحظورة وبأجهزة مخابرات قطر وتركيا".

وقال أبو بكر في تصريحاته أنه سبق له أن نبه إلى خطورة تلك الأذرع الإعلامية، التي تثير الشائعات والفتن داخل مصر، مشيرا إلى أنه "يجب تعقبها وتقديمها إلى العدالة".

هذا وجرى ضبط بلال حسام في وقت سابق وحبسه، وقد تمكن من الدخول إلى تركيا بعد هروبه للسودان.

تجدر الإشارة إلى أن منشورا ظهر في صفحة مروة بركات على "فيسبوك"، قبل ساعات من تنفيذ حكم الإعدام بحق 9 أشخاص أُدينوا بقتل أبيها النائب العام المصري، هشام بركات، وجاء في نصه ما يلي: "شهادة أمام الله، عرفت أن في شباب في قضية اغتيال بابا هيتعدموا قريب.. أنا هقول اللي جوايا وأمري لله لأن دي أرواح ناس زي روح بابا.. الولاد دول مش هما اللي قتلوا بابا وهيموتوا ظلم الحقوهم واقبضوا على القتلة الحقيقيين".

وبعد فتح تحقيق في ذلك تم التوصل إلى أن صفحة ابنة النائب العام هشام بركات، الذي تم اغتياله عام 2015، جرى اختراقها من قبل هاكرز.

 

 


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