Plan to tax gold imports stokes Thai industry criticismTraders have warned that any import duty collected on gold could damage Thailand's status as a regional gold trading hub, citing the lesson learned by India. The Customs Department has already conducted a study into gold import duties, which found that several developing countries impose taxes on gold. Trading hubAccording to Mr Phantong, Indonesia levies a 0% import duty on pure gold bars, but imposes value-added tax (VAT) at 11%. Thailand currently grants exemptions on gold import duty, VAT, and gold export tax, in order to position Thailand as a trading hub for the regional gold market, Mr Phantong said. “India was once the world’s largest gold market, but when the country levied an import tax on gold the country’s world ranking slipped to No.2,” she told the Bangkok Post.

Source: Bangkok Post February 23, 2026 14:19 UTC