•The change in legislation makes allowances for the South African gold investor to own locally minted gold bars in 10 grams, 50 grams, and 100 grams.
•These bars are produced by the Rand Refinery, and reflect the quality all international investors are familiar with through the gold Krugerrand.
•While the Krugerrands are VAT exempt and is 22 carats, these bars carry 15% VAT, but are 24 carats in purity, making them an important addition to any precious metal portfolio.
•Moreover, these gold bars may be taken overseas as part of one’s yearly R1 million allowance (provided they are declared).
•Exporting of gold Krugerrands, on the other hand, is prohibited, and individuals may only take out R30,000.00 worth of gold Krugerrand out of the country. Foreign visitors / travellers may take up to fifteen Kruger Rand coins with them out of South Africa given they can prove that the coins were acquired with foreign currency brought with them into South Africa.
