Is Import Of Gold And Silver Bar To The Eu Tax Free Or Not

[Sandman77]

hello!

A tourist told me this year in Thailand,that the import of gold and silver bars is taxfree to the eu from non eu country's?

Maybe he says the dealing with gold and silver bars import is import taxfree worldwide? Can someone confirm this?

But for gold suveniers like change earrings etc I have to payimport tax?

How high is the value of Thai gold in Europe?

How high is thai gold taxed in Thailand?

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[GentlemanJim]

My understanding was that the only form the commodities are exempt from tax - anywhere, is if they are in coinage! Coins cannot be taxed, regardless of quantity etc.

Edited to add, having said that, I don't do it and am very willing to be corrected with more accurate info.

Edited July 23, 2012 by GentlemanJim

[MrRealDeal]

My understanding was that the only form the commodities are exempt from tax - anywhere, is if they are in coinage! Coins cannot be taxed, regardless of quantity etc.

Edited to add, having said that, I don't do it and am very willing to be corrected with more accurate info.

It's a lot more complex than that ..... it depends on the type of coin , the particular country the gold comes from , ect. Their are coutries that would be exempt with the right kind of coin but a tariff (it's not called a tax) would apply to other kinds of coins ...... I guess you could say your correct because it's called a tariff or duty but it can still cost you money to import gold coins from place to place. Gold and Silver are usually in the same catagory so normally what applys to gold also applys to silver.

[JakeBKK]

really depends what you do (this is for the EU)

quote:

Special scheme for investment gold

A. Definition

For the purposes of this Directive, and without prejudice to other Community provisions: "investment gold" shall mean:

(i) gold, in the form of a bar or a wafer of weights accepted by the bullion markets, of a purity equal to or greater than 995 thousandths, whether or not represented by securities. Member States may exclude from the scheme small bars or wafers of a weight of 1 g or less;

(ii) gold coins which:

- are of a purity equal to or greater than 900 thousandths,

- are minted after 1800,

- are or have been legal tender in the country of origin, and

- are normally sold at a price which does not exceed the open market value of the gold contained in the coins by more than 80 %.

Such coins are not, for the purpose of this Directive, considered to be sold for numismatic interest.

C. Option to tax

Member States shall allow taxable persons who produce investment gold or transform any gold into investment gold as defined in A a right of option for taxation of supplies of investment gold to another taxable person which would otherwise be exempt under B.

Member States may allow taxable persons, who in their trade normally supply gold for industrial purposes, a right of option for taxation of supplies of investment gold as defined in A(i) to another taxable person, which would otherwise be exempt under B. Member States may restrict the scope of this option.

So the rest is up to the particular country you're importing into. Thai gold is usually 96,5 % pure. VAT is 7 % Yes, gold for souvenirs , jewellery and earrings ist subject to import tax and duty. The investment exceptions above do not apply. The value of Personal use / Souvenirs is usually capped depending on the particular country you are going to. ( 2000 $. for example ).

Edited July 23, 2012 by JakeBKK

[vtjforyou]

They only tax if they find it :-)

[JakeBKK]

They only tax if they find it :-)

it produces nasty shadows at the x-ray

[KhunBENQ]

Gold and Silver are usually in the same catagory so normally what applys to gold also applys to silver.

Nope.

At least I can speak for Germany.

Gold in whatever form can be purchased there free from VAT.

Silver is 7% VAT for coins and 19% VAT for bullions, which makes it a no brainer for investment purposes (aside from the practical aspect of heavy weight for comparable value).

Similar applys to Platinum and other precious metals.

Edited July 24, 2012 by KhunBENQ