- China’s Ministry of Finance and State Taxation Administration announced new gold market VAT policies effective from 1 November 2025 to 31 December 2027.
- SGE members buying and selling gold directly remain VAT-free, but those withdrawing gold face different VAT rules based on whether the purpose is investment or non-investment.
- Non-investment gold withdrawals now incur higher costs, and SGE clients also face increased tax obligations when withdrawing gold.
- The changes may reduce gold jewellery demand, encourage innovation, and shift some consumer purchases from jewellery to investment products.
- The VAT increase widens the gap between jewellery purchase and buy-back prices, potentially reducing jewellery recycling.
Source: gold.org
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "China"
- China Reinstates VAT on Contraceptives to Address Declining Birth Rates and Economic Slowdown
- Contraceptives to Be Subject to VAT in China Starting January 1, 2026
- China Uncovers Widespread VAT Evasion Schemes Involving Multiple Companies and Millions in Losses
- Tax Evasion Scandal: 49 Shell Companies and Fake Invoices Orchestrated by Tianjin Changze Finance
- Unveiling a Five-Layer Fake Invoice Network: Tax Evasion and Punishment in Lianyuan City
