GEORGE TOWN: The Penang Goldsmith Association (PGA) is projecting the value of Malaysia’s gold jewellery exports to be about RM4bil for 2018, a decline of about 40% from the RM6.7bil achieved in 2017.
PGA adviser Joeson Khor said the decline would be due to the recently imposed 5% value-added tax (VAT) in January 2018 by the UAE government.
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