Gold Tax & Duty Comparison

Argentina's excise tax (impuestos internos) on jewellery and precious stones (previously a 20% nominal rate under Ley 24.674) was repealed effective 1 April 2026 under Ley 27.802. No gold-specific IVA (VAT) rate or exemption was found in available sources beyond this now-repealed excise listing.

Investment-grade gold bullion sold in Australia -- bars/ingots at 99.5%+ purity, coins at 99.9%+ purity -- is GST-free. Jewellery and gold below those purity thresholds is subject to the standard 10% GST.

Investment-grade gold coins at 90%+ purity (Vienna Philharmonic, Maple Leaf, Krugerrand, and Austria's own ducats, crowns and guilders) and qualifying bars are VAT-exempt in Austria under the EU investment-gold rules. Collector coins and medals priced well above their metal value instead carry a reduced 10% VAT rate.

Azerbaijan's standard 18% VAT applies to gold and jewellery imports and sales, with no reduced or zero rate available for these goods -- Azerbaijan's VAT system only has a standard rate and a zero rate (for exports and specific categories), no gold-specific carve-out.

Bahrain zero-rates gold, silver and platinum only when supplied as investment-grade metal (99%+ purity, in standard tradeable bar or coin form) under Article 74 of the VAT Executive Regulations — the National Bureau for Revenue explicitly states this does not extend to jewellery, which is standard-rated at Bahrain's…

As of the 2026-27 national budget, Bangladesh replaced the earlier 5% ad-valorem VAT on gold and platinum jewellery with a flat, weight-based VAT of Tk 2,500 per bhori, alongside a cut to the jewellery source tax from 5% to 0.5%.

Bolivia applies a 13% IVA (VAT) to most goods and services, included in the sale price rather than added on top, giving an effective rate of roughly 14.9% on the pre-tax base.

Gold treated as a financial asset in Brazil is subject to IOF (Tax on Financial Operations) at 1% under Lei nº 7.766/1989, Article 4º, while manufactured gold products can carry IPI (a federal excise-style tax) ranging from 5% to 18%.

Cambodia charges a flat 10% VAT on the landed (CIF plus duty) value of imported goods, with import duties separately ranging from 0% to 35% depending on classification.

Qualifying investment-grade bullion -- 99.5%+ pure gold or platinum, 99.9%+ pure silver, in bar, ingot, wafer or eligible coin form -- is exempt from GST/HST in Canada under the Excise Tax Act's definition of a precious metal as a financial instrument.

Imported gold, platinum, jewellery and precious stones face a 15% luxury import tax in Chile on top of the country's standard 19% IVA (VAT), which applies broadly to both domestic and imported goods.

Gold bought directly from Shanghai Gold Exchange members for investment purposes -- bars and coins -- continues to carry the exchange's standard 13% VAT input-deduction treatment.

Colombia's standard VAT (IVA) rate is 19%, administered by the national tax authority DIAN, and applies to the ordinary jewellery retail transaction the way it would to most other retail goods.

Qualifying investment gold is VAT-exempt in Denmark under the EU-wide investment-gold rules in place since 2000: gold bars and wafers must be at least 995 fine (99.5% pure), while gold coins qualify at 900+ fine (90% pure) provided they were minted after 1800, are or were legal tender, and are priced within 80% of…

Ecuador's import duty structure ranges from 0% on raw materials to 25% on most finished consumer goods under Andean Community rules, plus a mandatory 0.5% FODINFA surcharge on the CIF value of any import.

Egypt's standard retail purity is 21K (87.5% fine) -- a distinctly different default from the higher purities common across the Gulf, so a quoted Egyptian price isn't directly comparable to a 22K or 24K figure without converting purity first.

Qualifying investment gold (995+ fine bars/plates and eligible coins) is VAT-exempt in Finland under the EU-wide investment-gold rules.

When gold is resold in France without proof of purchase (no invoice establishing origin and purchase date), the sale is subject to France's flat-rate precious-metals tax (taxe forfaitaire sur les métaux précieux, TFMP) at 11.5% of the total sale price; jewellery sold without an invoice instead benefits from an…

Georgia's 2026 tax law introduced a VAT exemption for investment-grade gold bars and coins meeting a specified fineness requirement, following the pattern already established across the EU and several other markets.

Germany's standard VAT rate of 19% applies in full to gold jewellery, since jewellery does not qualify for the Section 25c UStG investment-gold exemption regardless of its karat purity.

Ghana abolished its 15% VAT on mineral exploration and reconnaissance in the 2026 budget, ending a levy that had been in place for 25 years, specifically to encourage new mining investment. Small-scale gold production separately carries a 2% royalty rate under Ghana's revised minerals and mining regulations.

Hong Kong charges no VAT, GST, or general sales tax on gold at all.

Landed gold carries a 15% import duty in India -- a 10% Basic Customs Duty plus a 5% Agriculture Infrastructure Cess -- before a further 3% GST is added at the point of retail sale.

Investment-grade gold bullion at 999.9 fineness -- such as the Antam bars referenced in this page's market notes -- is exempt from Indonesia's standard VAT (PPN), an effective 11% on most goods under the current adjusted tax-base mechanism, while jewellery and sub-investment-grade gold are taxed at that rate.

Since Iran's Permanent VAT Act (approved 23 May 2021), a 9% VAT applies to gold and jewelry sales — but only on the making/craftsmanship fee, contract work, and seller's profit margin, not on the value of the gold itself, which is VAT-exempt (Article 26, Section 4, Clause B).

Iraq's gold import tariff rose sharply in early 2026 under Cabinet Decision No. 957, from 250,000 Iraqi dinars per kilogram to as much as 12,000,000 dinars, alongside a separate 50,000-dinar test fee on imported jewellery.

Qualifying investment gold (995+ fine bars and coins, 1 gram or more, priced near intrinsic gold value) is VAT-exempt in Ireland under EU-wide investment-gold rules. Gold jewellery and other non-qualifying gold products carry Ireland's standard VAT rate.

Imported gold and silver are subject to Israel's standard 18% VAT rate at the border. That applies to both new residents and returning citizens bringing gold into the country, not just commercial importers -- there's no personal-use or investment-grade exemption carved out the way there is in some other markets.

Investment gold (995+ fine bars/wafers over 1 gram, and qualifying legal-tender coins) is VAT-exempt in Italy under Article 10 of Presidential Decree 633/72. Under current rules, selling gold without proof of purchase triggers a 26% tax on the entire sale value rather than just the gain.

Japan's 10% consumption tax applies to gold bullion and jewellery alike, with no investment-gold exemption of the kind common in Europe, Canada or Australia.

Kazakhstan's standard VAT rate rose from 12% to 16% as of January 2026, part of a broader tax code overhaul rather than a gold-specific change. That increase applies to the general consumption tax base and is worth factoring into any retail gold or jewellery purchase made after that date.

Raw, unwrought gold is generally VAT-exempt in Kenya, while processed gold (including finished jewellery) can attract the country's standard 16% VAT depending on the specific transaction.

Kuwait has no VAT as of 2026 and it is not part of the current government's four-year development plan, unlike most other GCC states. Gold carries a preferential 0% import duty versus Kuwait's general 5% rate, and GCC-origin goods are duty-exempt under the regional customs union.

Laos applies a standard 10% VAT and a 10% import tax to goods generally, cumulative and levied on the landed cost for imports.

As of June 8, 2026, Malaysia charges a 10% import duty on LBMA-standard physical gold bars, ending a historic exemption.

Article 2-A, section I(h) of Mexico's VAT law (Ley del Impuesto al Valor Agregado), in place since 1994, sets a 0% VAT rate for gold sales -- jewellery, ingots, silverware and ornamental pieces -- with a minimum gold content of 80%, provided the sale isn't conducted as an ordinary retail sale to the general public.

Mongolia charges a standard 10% VAT on imports, calculated on CIF value plus customs duty and excise tax, with customs duty itself ranging 5-40% by classification.

Morocco's standard 20% VAT applies to gold and jewellery imports, calculated on the CIF value plus customs duty, alongside a separate 0.25% Taxe Parafiscale à l'Importation (TPI).

Myanmar levies a commercial tax on gold and jewellery sales proceeds (or landed cost for imports) -- sources describe this as 1% in some references and 3% in more recent ones, a genuine inconsistency in available documentation rather than a settled figure, so confirm the current rate before a transaction.

Nepal's 2083/84 budget doubled customs duty on gold imports from 10% to 20%, while maintaining the existing 2% luxury tax on gold ornaments above NPR 10 lakh unchanged from the prior fiscal year.

Investment gold (99.5%+ fine bars and eligible coins) is VAT-exempt in the Netherlands, with no direct tax on the profit from selling it. Gold jewellery and other processed gold products are taxed at the Netherlands' standard 21% VAT rate.

Nigeria's standard VAT rate is 7.5%.

Oman's standard 5% VAT applies to gold jewellery as a luxury item, while investment-grade gold, platinum and silver (99%+ purity, tradable on global bullion markets) is zero-rated. Gem and jewellery imports separately carry a 0-5% import duty, waived for goods originating from other GCC or GAFTA member states.

Locally manufactured articles of jewellery -- or parts thereof -- of precious metal or of metal clad with precious metal carry a 3% sales tax under the Sales Tax Act's Eighth Schedule (Table-1, Serial 78, HS heading 71.13), with no input tax adjustment; this specific provision has been unamended since Finance Act 2022.

Peru's IGV (general sales tax) is 18%, made up of a 16% base rate plus a 2% Municipal Promotion Tax, and does not apply when minerals are sold for export. No jewellery-specific IGV rate or exemption was found in available sources; the general 18% rate would apply to a domestic retail sale absent a documented carve-out.

Gold sold to the Philippine central bank (BSP) in bar or disc form is VAT-exempt under Republic Act 11256, with formal BSP certification required -- jewellery is explicitly excluded from this exemption.

Investment gold in Poland -- bars at 99.5%+ purity and coins at 90%+ purity that are legal tender minted after 1800 -- is VAT-exempt, including Poland's own tax-free złoty coin series. Jewellery, numismatic coins and collector items are not investment gold regardless of purity and carry standard VAT.

Qualifying investment gold (900+ fine coins minted after 1800, legal tender, priced within 80% of metal value, plus qualifying bars) is VAT-exempt in Portugal under the EU-wide investment-gold framework.

Qatar imposes no VAT on gold purchases or imports as of 2026, applying equally to jewellery and bullion, even though Qatar signed the GCC VAT Framework Agreement in 2018 and is expected to eventually implement VAT at a rate around 5%.

Individual purchases of physical gold bars have been exempt from VAT since March 2022, reversing the 20% rate that applied before -- a policy change intended to encourage rubles moving into gold.

Jewellery and its making charges are taxed at Saudi Arabia's standard 15% VAT rate, though investment-grade gold of 99% purity or higher can qualify for a 0% VAT rate under specific conditions rather than the standard rate.

Investment Precious Metals (gold 99.5%+ pure, silver 99.9%+, platinum 99%+, tradable on the international bullion market with a recognised quality mark) have been GST-exempt in Singapore since October 2012. Jewellery, gift items and collectors' coins don't qualify and carry Singapore's standard 9% GST.

Intact gold Krugerrand coins bought "as such" are zero-rated for VAT under section 11(1)(k) of South Africa's VAT Act, and investment-grade gold at 99.5%+ purity from a licensed dealer is generally VAT-exempt too -- jewellery, by contrast, carries the standard VAT rate.

South Korea's standard 10% VAT applies to physical gold bars and jewellery bought through retail channels. Gold traded on the Korea Exchange (KRX) gold market avoids both VAT and capital gains tax as long as it isn't physically withdrawn; once a trader takes physical delivery, the standard 10% VAT applies.

Investment gold in Spain (bullion at 99.5%+ purity, or coins at 900+ fineness minted after 1800, legal tender, priced within 80% of metal value) is exempt from IVA on both purchase and sale.

Sri Lanka charges 18% VAT on both imported gold and the labour charges for locally manufactured jewellery, in place since January 2024, plus a further 2.5% Social Security Contribution Levy (SSCL).

No documented consumer VAT or sales-tax regime specific to retail gold purchases in Sudan was found in the sources behind this page, so none is stated here rather than guessed.

Investment gold (bars over 1 gram at 99.5%+ purity, and approved coins) is VAT-exempt in Sweden under the EU-wide investment-gold rules in place since 2000. Investment silver, by contrast, carries Sweden's full 25% VAT with no equivalent exemption.

Switzerland's standard VAT rate of 8.1% applies in full to gold jewellery and other non-investment gold products. Qualifying investment gold -- 995-fine-or-better bars/wafers with a certified assayer-smelter hallmark, and equivalent coins -- is exempt from VAT under Article 107 of the VAT Act.

Gold bars, ingots, sheets, coins and pure gold jewellery are exempt from business tax in Taiwan, documented via a separate tax-exempt uniform invoice.

VAT is zero-rated on domestic gold supplies in Tanzania, with the 2026 budget formally codifying VAT exemptions already granted to mining companies under cabinet-approved Framework Agreements.

Gold bullion carries no import duty, export duty, or VAT in Thailand. Imported gold jewellery, by contrast, is subject to a 7% VAT on its declared value, intended to support the domestic jewellery-manufacturing sector; gold shops commonly absorb this into the shelf price rather than showing it as a separate line item.

Turkey's VAT (20% standard rate) doesn't apply to a jewellery sale in full -- jewellers calculate the pure gold content using the same milyem fineness system already used for gram-gold pricing, and only the portion of the price above that bullion value is taxed.

Refined gold exported from Uganda is VAT zero-rated as of 2026, alongside a separate export duty of 3% on FOB value and a new flat $200-per-kilogram export levy introduced to formalise and regulate gold exports.

Ukraine's standard VAT rate is 20%, and it applies to the wide majority of transactions including jewellery -- there's no broad gold-specific exemption the way some markets carve out for investment-grade bullion.

Investment-grade gold -- bars and coins at 99% purity or higher -- is zero-rated for VAT in the UAE, while standard jewellery purities (22K, 21K, 18K) carry the normal 5% VAT rate.

Sovereigns and Britannias carry a tax advantage most bullion doesn't: because both are legal tender, HMRC treats any gain on them as fully exempt from Capital Gains Tax, with no cap on the size of the gain.

Federally, the IRS treats physical gold as a collectible rather than an ordinary investment, and that classification carries a real cost at sale: long-term gains on gold are taxed at up to 28%, well above the 15-20% top rate that applies to most stocks and funds held the same length of time.

Uzbekistan abolished its VAT exemption on jewellery and semi-finished precious-metal products effective January 1, 2026, bringing all jewellery businesses into the standard 12% VAT system regardless of income level.

No reliable, gold- or jewellery-specific VAT or customs figure for Venezuela could be confirmed in available sources.

Gold jewellery purchases in Vietnam carry a standard 10% VAT. ASEAN-sourced jewellery imports are duty-free but still subject to that 10% VAT; non-ASEAN imports face an additional 30% import duty.

Zambia's standard VAT rate is 16%, applying to imported goods on entry.