Fighting against smuggling and illegal trading of gold

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Strengthening the fight against smuggling and illegal trading of gold. Photo: Internet

The Ministry of Finance said that the Government has issued Resolution No. 20/NQ-CP dated February 5, 2024, and the Prime Minister has issued Official Telegram No. 23/CD-TTg dated March 20, 2024 on strengthening measures to manage the gold market, however, recently the gold market has remained complicated, the domestic gold price is higher than the international gold price and has continuously seen many strong fluctuations, affecting stability and safety of the financial market and social psychology.

To strengthen the fight against smuggling and illegal trading of gold, the Minister of Finance requested the Director General of the General Department of Customs and the General Director of the General Department of Taxation to focus on directing the implementation of key contents.

Accordingly, the Minister requested the General Department of Customs to direct customs agencies at all levels to proactively and regularly coordinate closely with police, border guards, and market surveillance forces; enhance inspection, investigation, and organize timely efforts to prevent smuggling activities, trade fraud, and illegal transportation of goods across land and sea borders and other locations under the customs management areas.

In particular, the Customs will focus on fighting cases of smuggling and illegal transportation of gold and foreign currency; strictly handle violations, especially acts of smuggling gold across the border.

Regarding the Tax sector, the Minister requested the General Department of Taxation to direct Tax Departments to proactively and actively coordinate with local authorities to promote inspection of compliance with regulations on application of electronic invoices at gold businesses, stores and trading locations; regularly coordinate closely with the police and market surveillance agencies to promptly detect and strictly handle violations of taxes and invoices; immediately transfer the case with criminal signals to the police agency for further investigation.

Support clearance procedures for imported gold for bidding

The Minister requested the heads of units to urgently and seriously carry out the tasks assigned by the Ministry of Finance in Official Dispatch No. 4579/BTC-VP dated May 4, 2024 on strengthening the fight against smuggling, trade fraud, and illegal transportation of goods, to contribute to good management of gold import and export activities.