Whether you pay VAT on platinum depends on the form in which you buy it. Different VAT rules apply to platinum bars and platinum coins.

At Holland Gold, we offer several options for buying platinum as favourably as possible from a VAT perspective.

Do I pay VAT on platinum bars?

Yes, on platinum bars you pay 21% VAT on the full purchase price if you keep them at home or have them stored in the Netherlands. Buying platinum bars without VAT is possible if you choose storage in a bonded warehouse in Switzerland.

If you buy platinum as a business, the VAT paid may be recoverable under certain conditions. We advise you to discuss this with your accountant or tax adviser. For private individuals, this VAT cannot be recovered.

Do I pay VAT on platinum coins?

Yes, on new platinum coins you pay 21% VAT on the full purchase price. However, this is not the case for platinum coins that have previously been in circulation, from various years.

Platinum coins from various years that we have bought back from customers, also known as pre-owned coins, can be offered under the VAT margin scheme. This means we do not have to charge 21% VAT on the full purchase amount. Under the margin scheme, VAT is calculated only on the dealer’s margin.

For private investors, coins from various years are therefore generally much more favourable than new platinum coins, on which 21% VAT is calculated on the full purchase price.

Buying platinum without 21% VAT on the full purchase price

Do you want to buy platinum without paying 21% VAT on the full purchase price? At Holland Gold, you have several options for this.

Precious metals account
Via the precious metals account, you can buy physical platinum per gram. The platinum is stored safely and insured outside the EU, so you do not pay VAT when purchasing it. You are not tied to the weight of a full platinum bar and can decide for yourself the amount for which you buy platinum. Download the Holland Gold app or create an account via our website and easily buy platinum via the precious metals account.

Platinum coins from various years, pre-owned
You can also choose platinum coins that are offered under the VAT margin scheme. On these coins, no 21% VAT is calculated on the full purchase price. This can make them more tax-efficient for private investors than regularly purchased platinum bars.

Platinum bars in a bonded warehouse in Switzerland
Holland Gold also offers, if available, platinum bars in combination with insured storage in a bonded warehouse in Switzerland. As long as the platinum bars remain in the bonded warehouse in Switzerland, you pay no Dutch VAT when buying or selling them. Dutch import VAT only becomes due upon import into the Netherlands.

Different VAT rules apply to other precious metals. Investment gold is exempt from VAT, while silver and palladium are subject to rules comparable to those for platinum.