Thailand Should Tax Gold Trading to Curb Baht Impact: Vorapak

The Bank of Thailand may consider taxing domestic gold trading settled in the baht to reduce the precious metal’s influence on the currency’s moves, according to incoming Deputy Finance Minister Vorapak Tanyawong.

• Gold transactions settled in Thai baht may be subjected to specific business tax, while exempting those settled in dollars, Vorapak says in a post on Facebook late on Thursday
• Such a move will incentivize gold trading in dollar to reduce pressure on the baht, he says
• NOTE: Thailand Vows to Curb Baht Swings as Currency Hits 4-Year High
• The tax may exclude gold jewelry transactions at retail ...