Gold bars seized from companies owing a large amount of tax to the government are pictured in an undated photograph. Photo courtesy of the Administrative Enforcement Agency’s New Taipei City Branch

ALL THAT GLITTER: The 90 items, including gold bars, bricks and ingots, were seized from 11 precious metal vendors that owed huge amounts of taxes to the government

Staff writer, with CNA

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The Administrative Enforcement Agency is to hold an auction of 64kg of gold on Tuesday next week in what would be the largest gold auction ever by Taiwanese law enforcement authorities.

The gold was seized from companies that owed a large amount of tax to the government, the agency’s New Taipei City branch said in a statement on Monday.

The 64kg cover 90 items, including 49 Swiss-branded gold bars weighing about 1kg each, 22 gold bricks weighing between 137g and 1,496g, another 16 gold bars weighing 187g each, and two shoe-shaped gold ingots weighing 37.48g and 37.5g, it said.

The auction, which is to be divided into 22 bids, is expected to bring in a substantial amount of revenue.

With gold currently trading at about US$4,000 per ounce, 64kg would be worth about US$9 million, but items sold by the Administrative Enforcement Agency tend to fetch less than their market prices.

Still, the lots would be worth far more than they would have last year, with gold prices up more than 45 percent from a year earlier.

The gold items to be auctioned previously belonged to 11 precious metal vendors registered in Taipei and New Taipei City, which owed about NT$774 million （US$25.04 million） in corporate income tax to the government, the branch said.

The auction is to start at 10am at the meeting room of its office in New Taipei City’s Sinjhuang District （新莊）, it said.

Those who want to participate in the auction can sign up with the agency and put up a NT$1 million deposit in the form of a bank check between 8:30am and 9:40am that day, it said.

新聞來源：TAIPEI TIMES

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