Open menu Close menu Menu
Open charts menu Close charts menu Charts

Call us: 0121 634 8060, 7 days, 7am - 10pm

Free Insured Next Day Delivery

Ounce Gram
Gold £1246.12 £40.064
Silver £14.240 £0.4578

Updated 23:54 19/02/20

£ $

Indian Airplane toilets stashed with gold


Adam Pike, News Editor
12 Mar 2014, 10:55 a.m.

Indian gold smugglers are stuffing kilos of gold inside the panels of airplane toilets in the attempt to avoid the 10% import tax. Last week Indian customs authorities found $650,000 of gold stuffed in the toilet cubicles on two Jet Airways flights.

The attempted scam works as follows. Firstly a smuggler will board an international flight, hide the gold and then depart undetected through customs. The next smuggler then boarders a domestic flight on the same plane uncovers the gold and disembarks at a local airport where there are no custom officials.

Gold smuggling has become extremely profitable as a result of the gold import tax increasing from 2% to 10% in January 2012. The tax is extremely unpopular in India and last week gold traders and jewellers went on strike demanding the tax is lifted.

View original source at: blogs.wsj.com

comments powered by Disqus