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Malaysia Reportedly Imposes 10% Tariff on Imports of Certain Gold Bars
According to Bloomberg citing sources, Malaysia has imposed a 10% tariff on imports of certain gold bars since at least early May. Under this additional cost, some gold bars have b...
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According to Bloomberg citing sources, Malaysia has imposed a 10% tariff on imports of certain gold bars since at least early May. Under this additional cost, some gold bars have been detained by customs or redirected to other destinations.

A spokesperson for the Royal Malaysian Customs Department said the Ministry of Finance will consult with the industry on issues related to the import of minted gold products, while the Malaysia Gold Association and the local representative of the World Gold Council declined to comment on the report.

According to data from the Department of Statistics Malaysia, the country imported approximately USD2.5 billion worth of non-monetary gold as of April this year. (mn/u)

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