VAT rates for purchase and sale of gold, businesses and public sector enterprises
When selling gold based on weight and fineness to a business or public sector enterprise, the buyer calculates and pays VAT.
|Gold based on weight and fineness.||Calculated by the purchaser||If you sell gold to other businesses or public enterprises as a business, you should not calculate and collect VAT from the buyer. This applies to sales of gold down to a fineness of 325 parts per thousandth. You should enter the turnover as 0-rated in your accounts system. You should also state in the sales document that the turnover is covered by the rules concerning reverse tax liability and that no VAT has been calculated. You should state the buyer’s organisation number in the sales document. If the buyer is registered in the VAT Register, "mva" (VAT) must be stated after the organisation number.|
|Gold jewellery and other gold objects||25 %||These are counted as an ordinary sale.|