The Ministry of Finance and the State Administration of Taxation issued a notice regarding tax policies related to gold

On November 1st, the Ministry of Finance and the State Administration of Taxation issued an announcement regarding tax policies related to gold. For member units purchasing standard gold for investment purposes, the exchange implements immediate VAT refund, while exempting urban maintenance and construction tax and education fee surcharge. Additionally, a special VAT invoice will be issued to the purchasing member unit based on the actual transaction price. If the purchasing member unit directly sells the standard gold or processes it into investment gold products (excluding legal gold currency issued with the approval of the People's Bank of China) and sells it, they must pay VAT according to current regulations and issue a regular invoice to the buyer, and cannot issue a special VAT invoice. For member units purchasing standard gold for non-investment purposes, the exchange exempts VAT and issues a regular invoice to the purchasing member unit based on the actual transaction price. If the purchasing member unit is a general VAT taxpayer, the input tax amount is calculated based on the amount indicated on the regular invoice and a deduction rate of 6%. If the purchasing member unit processes standard gold into non-investment gold products and sells them, they must pay VAT according to current regulations and can issue a special VAT invoice to the buyer. The announcement regarding tax policies related to gold is as follows: 2025 No. 11 from the Ministry of Finance and the State Administration of Taxation. 1. When member units or clients trade standard gold through the Shanghai Gold Exchange or the Shanghai Futures Exchange (hereinafter referred to as the exchange), the seller member unit or client is exempt from VAT when selling standard gold