The sale of gold may be taxed in certain European countries. Please contact your tax office for more information.
We provide statements and purchasing receipts so you can file your tax returns with your tax authority.
Types of precious metals sold via VeraCash
The gold which is available for purchase through VeraCash falls into the category of investment gold:
- coins whose purity is greater than or equal to 900 parts per thousand (GoldPremium); or
- gold in the form of bars, ingots and plates with a weight of more than one gram or whose purity is greater than or equal to 995 parts per thousand (GoldSpot).
The silver which is available for purchase through VeraCash falls into the category of tokens and coins which are valid legal tender, whose purity is greater than or equal to 995 parts per thousand.
Taxation of purchases of investment gold
In Europe, investment gold is exempt from VAT, meaning you have no tax to pay when you buy gold via VeraCash.
Taxation of purchases of silver
In Europe, VAT is applied to all purchases of silver products.
However, because VeraCash stores our members’ silver in a free zone in Geneva, it has a special dispensation from VAT when purchased.
Taxation of sales of investment gold
The taxation of sales of investment tokens and of coins which are valid legal tender (called “GoldPremium” on our platform) and bullion (called “GoldSpot” on our platform) varies from one country to the next.
We recommend you reach out to your tax office for more information on the taxation of sales of tokens, coins which are valid legal tender and gold bullion.
Taxation of sales of silver
The taxation of sales of silver tokens (called “Silver” on our platform) varies from one country to the next.
We recommend you reach out to your tax office for more information on the taxation of sales of silver tokens.
See also: