Investment gold is exempt from VAT throughout the European Union. Different rules apply to silver, platinum and palladium. For silver, platinum and palladium bars and new coins, 21% VAT is paid on the full value. For coins from various years, also known as pre-owned coins, the margin scheme applies. This means VAT is only paid on the margin, which makes these coins more affordable.

Do I pay VAT when buying gold?

Investment gold is fully exempt from VAT. Within the European Union, investment gold is treated differently for tax purposes than silver, platinum and palladium. Holland Gold only trades 24-carat gold bars and gold coins with a purity of at least 90% that meet these tax requirements. This means you pay 0% VAT on the value of your gold with us.

Do I pay VAT when buying silver, platinum and palladium?

VAT may be charged on silver, platinum and palladium. This depends on the product you buy from us.

Bars

Within the eurozone, silver, platinum and palladium bars are not exempt from VAT and are therefore subject to 21% VAT. These metals have an industrial character and are treated as raw materials for tax purposes. When buying silver bars, platinum bars or palladium bars, you therefore pay 21% VAT on the full value.

We also offer silver bars, platinum bars and palladium bars on which you do not pay 21% VAT. This applies in combination with insured storage in a customs warehouse in Switzerland or Singapore and is the most cost-effective way for both private and business customers to buy these metals.

New coins

New silver, platinum and palladium coins are, like bars, subject to 21% VAT.

Coins from various years (pre-owned coins)

Silver coins that Holland Gold buys from private individuals fall under the margin scheme. This means you do not pay VAT on the full value, but only on the profit margin. As a result, these “coins: various years” are considerably more affordable to buy than new coins that come directly from the mint.

Precious metals account

You do not pay VAT on physical silver, platinum and palladium that you buy via the precious metals account on the Holland Gold website or in the app. This is because the precious metal you buy is stored safely and insured in a customs warehouse in Switzerland.

Are you buying silver, platinum or palladium as a business customer? The VAT rules may apply differently, for example if your company can reclaim VAT. Please also read our explanation about buying silver, platinum and palladium as a business customer.