TAX SYSTEM

These informations concern France system only. Check for your own legislation and tax system for more information.

In France, most of precious metal market is about Gold and Silver. However, gold and silver from the metal Exchange and their other kind of physical form (jewelry, medals…) aren’t treated the same by tax system.

Any ingot and coin with a daily market price on the CpoR is considered as part of the metal Exchange. Coins must have been minted before 1800 and their premium below 80% of their value, otherwise it will be considered as a collector coin and not a Stock Exchange coin.

Ingots must have a fineness higher than 995/1000 to be traded in the stock exchange. The ingot must weight 1 kg, or rather its fine gold weight must be between 995 and 100 5 g not to be taxed by the VAT.

The ingot must be hallmarked with : the tester register number ; its fine gold fifness which must be equal or superior to 995/1000 ; an authorized melter stamp.

Then, the ingot must too be provided with a signed and dated certificate from an authorized tester. 

The government takes off a tax on gold and silver only when reselling. There is no tax nor declaration to do when you buy gold or silver in France.

However, silver and gold are during the sale inclusively taxed for 10,5% of its price. It is constitued with the Precious Metal Tax (PMT) of 10% , not including the CRDS and its 0,5 rate.

However, when resaling Investment Gold or Silver (see above) the seller CAN chose between the PMT, or the added value tax (34,5) on which he can be exonerated according to the time he has possessed the object, if he can justify its price and the date when he got the object.

The withdrawal is done on the difference between the purchase and the resale price, on which the 34,5% tax is applied. But this tax is exonerated of 22 per year after three years of possession. So, for example, after 7 years of possession, so an exoneration of 5 years (years 3,4,5,6 and 7), its tax is exonerated from 50% and thus only 34.5% x 35% = 12% on the added tax. Thus after 22 years, the added value tax is equal to zero.

This quite interesting system only applies to precious metal market.

The seller only needs to bring the proof according to which he himself bought this gold investment and its purchase date (a purchase nominative bill) and a proof according to which he resold his product himself (a sale nominative bill).

ISF AND PRECIOUS METAL

The stock exchange gold must be declared to the ISF except for jewel or antique gold coins.

VAT AND PRECIOUS METAL

The gold and white metals are totally exonerated from VAT. However, the Silver ingot is considered as an industrial commodity and not as a Precious metal. Thus, the silver ingot is taxed by the VAT unlike Silver coins, taxed by the PMT.