Individuals will be allowed to mine gold

As Vedomosti writes, referring to the conclusion of the government commission on legislative activity, amendments to the Tax Code on the payment of VAT not by miners, but by buyers of gold, and on exemption from personal income tax if a prospector extracted less than 1 kg of gold during the reporting tax period were approved.

Currently, legal entities are allowed to mine gold. To do this, they must obtain a license to use the subsoil. The changes prepared on behalf of the president will be launched first as an experiment in the Far Eastern and Arctic regions, and then spread to the whole country. Residents of the Far East and the Arctic will be able to register as an individual entrepreneur through the online system, then apply to the local authorized body and receive mining plots of no more than 10 hectares for free use for three years with the possibility of extension for another three years "by agreement of the parties."

At the same time, the prospector will have to work only on one site, without removing more than five meters of land and without attracting more than a dozen workers, without carrying out explosive work. Gold can be mined no more than 30 kg.

The site should not border on deposits of precious stones. Prospectors are required to keep records with photo and video recording of the site.

The positive effect for regional budgets is estimated at 15.1 billion to 29.99 billion rubles accumulated over three years. It is assumed that about ten thousand jobs will appear from the legalization of prospecting activities.

Recall that last year citizens bought more than 75 tons of gold bullion. This is 15 times the volume of 2021. In 2020-2021, the volumes were about 5 tons and silver — more than 8 tons.