Duty on gold, what is wrong?
I am amused by some politicians making a big cry over the duty on gold imports on jewellers or traders. As an ordinary citizen of this country I am all for the imposition of direct Duty on imports of all luxury items whether consumer items or utility items. Any earnings for that matter, be it from Professional Services or employment in Government or the Private sector too should be subject to taxes (of course on a reasonable percentage and staggered scale) so that the Treasury can reduce the indirect taxes and duties and relieve the ordinary citizen paying for the luxuries of those who can afford luxuries.
If one looks at the weight of the gold chains, rings, bracelets/bangles and the gold straps on the wrist watches they wear, would give a clue on why those politicians cry against the duty on gold imports. I am only pointing out what is seen by the general public when these politicians show up on television. In addition, if one takes into account the amount of gold worn by their children, spouses, siblings and their henchmen, it would be in tons. There have been instances reported of some affluent people having gold plated fittings in their toilets!
On the other hand, the ordinary housewife who wishes to get a quick loan when in distress would be happy about the price of gold going up, as she can get a bigger loan by going to the pawn broker with the only gold chain or bangle that she possesses.
Let the new Minister of Finance have the courage to impose duty on all luxury goods, cars, non-consumer luxury goods, such as, fancy electrical items, which are not considered essential by the ordinary voter.
The total voter public would rejoice if the car permit scheme is abolished totally and a reasonable duty imposed on all vehicle imports on a staggered basis, so that those wanting to import luxury vehicles can pay the duty to the Government rather than paying it to a middleman getting a permit that he/she does not use.
Lalith Hettiarachchi,
Colombo 7.