|As Japan prepares to raise the consumption tax for the first time in half a decade next year, many feel gold smuggling will also get a boost. When the tax was last increased in 2014, to 8% from 5%, smuggling of gold jumped as criminals quickly realized how to game the system.|
Hong Kong does not tax gold. Buyers can use mules and the tax component becomes pure profit.
|With the consumption tax set to rise to 10% in October 2019, margins will grow even fatter for criminals.|