You can access the details of your sales transactions in your Member Area on the website and find out the amount of your realised gains or losses.
Taxation and country of residence
Warning: Regardless of your tax residence country, you must inform yourself about the tax system in force with the competent authorities and you are the only responsible for any tax declarations.
VeraCash provides a document that details your transactions according to the FIFO system ("First In First Out").
If you are a tax resident of another country, this document is still valid for determining your gross realised gains or losses*.
Explanations of the table
Purchase date: date on which the metal was purchased.
Purchase price: the amount of the metal acquisition on the quotation of the acquisition date. This amount is expressed in EUR.
Purchase fee: amount of the management fee on the metal share purchased.
Date of disposal: date of the sale of precious metals either by purchase or withdrawal via debit card or by transfer to a bank account.
Disposal price: amount of the disposal on the metal share concerned by the sale.
Disposal fee: amount of the management fee on the metal share sold.
There are 4 materials available in the VeraCash account:
- “Fractional gold coins" are GoldPremium
- “Fractions of gold bars" are GoldSpot
- “Fractions of silver coins" correspond to Silver Metal
- "Fractions of diamonds".
Origin of ownership: most of the time, the origin will be identified as "For valuable consideration", meaning that you bought the metal fractions that you are reselling.
Sometimes the origin will be identified as "Donation" in the case where a relative has sent you VRC, meaning transferred fractions of precious metals for free.
Realised gains (or losses): it corresponds to the calculation: (transfer price - transfer costs) - (purchase price + purchase costs). The amount is expressed in euros. The calculation of the realised gain does not include any tax allowances.
Some operations are excluded from the calculation: management fees for inactive accounts (oxidation), sending of VRCs, transfers from AuCOFFRE and VeraOne
Difference between “unrealised” gain and “realised” gain
The “unrealised” gain expressed on the dashboard of your Member Area is an indication of your current gain, in case you resell all precious metals and diamond fractions on your account.
*The “realised” gain represents the actual gain or loss on the sale of precious metals, without taking into account the possible definitions of capital gains and losses by the different competent authorities in each country.