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Dubai Gold Souk – Deira | Bur Dubai – United Arab Emirates Updated for 2024

Updated: March 11, 2024

#CityOfGold #DubaiGoldSouk #WorldLargestRing

Welcome to Dubai Expo 2020
Dubai Gold Souk – Deira | Bur Dubai – United Arab Emirates
THE WORLD BIGGEST RING IN DUBAI, GOLD SOUK/SOUQ, DEIRA – DUBAI, UAE

Why is gold cheaper in Dubai? “There is no import duty tax on raw materials like gold bars and TT bars,” Because of this, traders are able to bring in the precious yellow metal from anywhere in the world, tax free.
However, while gold bars don’t need any tax to be paid, jewellery imports come with an import duty of 5 per cent. And on the ornaments, a 5 per cent VAT is also applicable.

Now, here is the good news: tourists visiting the UAE and buying gold (or other items) here, can claim a VAT refund at any airport in the UAE.

The World’s Largest Gold Ring Is On Display In Dubai. Paul Fenwick via Flickr Those with a penchant for gold should make their way to Dubai for a glimpse of the world’s largest ring. The Najmat Taiba or Star of Taiba is estimated to cost $3 million, is on display at the Deira Gold Souk.