TAX SYSTEM

Taxation of precious metals in France : 

The taxation of precious metals in France mainly concerns gold and silver. However, it is important to distinguish market gold and silver from other forms of physical gold and silver (jewelry, medals, etc.), as their status gives them special treatment in terms of gold taxation.

All ingots and coins quoted daily on the CpoR (except weekends) are considered to be bullion. All exchange coins must have been minted after 1800, and the coin's premium must not exceed 80% of its intrinsic value, otherwise the coin will be considered a collector's item and no longer an exchange coin.

Ingots must have a fineness greater than 995/1000e to be traded at the market price, and a 1kg ingot must have a fine gold weight of between 995g and 1,005g to be exempt from VAT.

The ingot must be marked with :

• an assayer's registration number ;
• its fine gold content greater than or equal to 995/1000e ;
• a stamp from a recognized smelter; an assayer's hallmark.
• Finally, the ingot must also be accompanied by a certificate dated and signed by an approved assayer.

Gold taxation

The government levies a tax on gold and silver only on resale. In addition, there are no taxes or declarations to make when you buy gold or silver in France.

Tax on the sale of gold or silver is subject, at the time of sale, to a flat-rate tax of 11,50% on the sale price. This is made up of the 11% tax on precious metals, plus the CRDS at a rate of 0.5%.

However, in the case of the resale of investment gold or silver (see above), the seller HAS THE CHOICE of opting for the precious metals tax as indicated above, or for the real capital gains tax.gime des plus-values réelles (37,60% since January 1, 2026), on which he can benefit from an exemption depending on the length of his holding period, provided he can prove the price and date of acquisition.

The tax is levied on the difference between the resale price and the acquisition price, to which the 37,60% rate is applied.However, from the third year of ownership, this tax is waived at a rate of 5% per year. And after 22 years of ownership, the investor benefits from a total exemption: the capital gains tax is NIL.

This highly advantageous system is specific to the precious metals market.

The conditions governing the taxation of gold enabling a seller to benefit from this scheme are as follows: provide proof that he has purchased the gold himself and the date of acquisition (nominative purchase invoice). He must also prove that he has resold the same product himself (nominative sales invoice).

Gold taxation: private companies

A private company holding physical gold or silver will be exempt from tax (TPV or TMP) on resale.

Gold taxation: ISF and precious metals

Previously, stock market gold had to be declared for wealth tax (ISF), unless it was jewelry, gold coins or gold antiques.

Since the replacement of the Impôt sur la fortune (ISF) by theImpôt sur la Fortune Immobilière (IFI), gold has been exempt from taxation during its ownership.

Gold taxation: VAT and precious metals

Gold and silver are fully exempt from VAT. However, silver bullion is considered an industrial good, not a precious metal, and is therefore subject to VAT.