Presidential law regulates bringing raw gold to Syria
DAMASCUS, Syria (North Press) – On Thursday, Syrian President Bashar al-Assad issued law No. 34, allowing Syrians and foreigners to import raw gold without a license.
The law includes 11 articles, with the Article 4 stating that a fee of $100 must be paid for each kilogram of gold, which will be collected by customs department and transferred to the central treasury account as miscellaneous revenues.
Article 5 requires non-resident foreigners in Syria who wish to export gold to present a document showing the amount of gold that was imported.
According to Article 5, individuals who fail to meet the export deadline will be subject to penalties imposed by the Central Bank governor. The penalty corresponds to the value of one gram per kilogram of imported raw gold for each day of delay. Payments for these penalties must be made in USD, calculated based on the prevailing gold price on the date of payment.
Article 8 imposes penalties on importers who provide false information, with a fine equivalent to the value of the gold amount that has been violated.