Gold in Dar es salaam are in strike of Gold buying

 

 Gold dealer from Dar es Salaam are in strike of buying gold. The situation dating back since 10 October 2017 when Jaffer Hussein and Akif Mohamed arrested with gold of 6.44kg (207 troy ounces) of more than TSh 500millions valued. The event happened at night in Port area of Azam Sea Link/DMI in preparation to ship gold to Zanzibar but security of Tanzania Port Authority (TPA) and police they were there for patrolling the port area.

Jaffer and colleague were travelling to Zanzibar with that gold but in the next day according to the mineral inspector of the Port Mr Omar Paul Massif termed this as gold smuggling because the owner of this gold posses no any right documents for exporting and holding gold permit. Mr Omar added to export mineral you need to have export permit, royalty and clearing fees documents since once you’re in Zanzibar no any law guiding or controlling for payments of all this fees and from their you can go anywhere in the World without mineral inspection.

According to financial law amendments of tax in 2017, provided new procedures for mineral chain gold buying and selling from small scale miners, brokers to dealers. Also these amendments published in ministry of mineral and energy in July of 2017. Explained that small scale miner should pay 5% as withholding tax through selling to broker or dealer and money will be collected from brokers or dealers by Tanzania revenue authority (TRA) at the same time dealer will pay clearing fees of 1% for inspection at exporting

According to kulunzifikra blog investigation found that Zanzibar way to outside Tanzania were a way used by gold dealers for long time to evade tax payments from Tanzania Airport. In other hand kulunzifikra blog failed to talk with any gold dealer about this issue because they refused to show any corporation but at hub of live gold market in Dar es salaam, Indragandhi Street, one gold broker known by one name Bhariadi coming from Southern part of Tanzania seems to be confused and told the Machimbo explorer that I come in Dar es salaam three day a go for gold selling but up to now I don’t know where to sell my gold and I am just wasting my money sleeping in Guest house for nothing.

But total tax of 6% that instructed by new code of tax is seems to be the heart of the problem of the gold dealer to opt for strike after Zanzibar passage blocked because they buy gold not only from Tanzania and if they will accept payments of 6% will lead them to loss potential customers from Congo, Mozambique and Zambia that sell their gold in Dar es salaam live gold market in which they will never sell gold at less than 6% live gold price because of Tax law of Tanzania.