In order to implement the State Council's decision on the reform of the gold system, standardize gold trading and strengthen the tax management of gold trading, the relevant tax policies on gold trading are hereby clarified as follows:
1. Gold production and business units sell gold (excluding the following varieties: au9999, au9995, au999, au 995；; ; Gold (hereinafter referred to as standard gold) and gold ore (including associated gold) with specifications of 50g, 100g, 1kg, 3kg and 12.5kg are exempt from VAT; Imported gold (including standard gold) and gold ore are exempt from import value-added tax.
Two, the member units of the gold exchange sell standard gold through the gold exchange (holding the "gold transaction settlement certificate" issued by the gold exchange), and are exempt from value-added tax without physical delivery; For physical delivery, the tax authorities shall issue special invoices for value-added tax according to the actual transaction price, implement the policy of immediate collection and refund of value-added tax, and be exempted from urban maintenance and construction tax and education surcharge. The formula for calculating the unit price, amount and tax amount of the special VAT invoice is as follows:
Unit price = actual transaction unit price ÷( 1+ VAT rate)
Amount = quantity × unit price
Tax amount = amount × tax rate
The actual transaction unit price refers to the unit price excluding the handling fee charged by the gold exchange.
Taxpayers who do not sell standard gold through the gold exchange do not enjoy the policy of refund of value-added tax upon collection and exemption from urban maintenance and construction tax and education surcharge.
3. Gold exports are not refundable; Gold jewelry exports do not return gold raw materials, only the value-added parts of processing.
4. Income such as handling fees charged by the gold exchange shall be subject to business tax according to regulations.
Five, the gold exchange gold trading VAT collection and management measures and special VAT invoice management measures shall be formulated separately by State Taxation Administration of The People's Republic of China City, People's Republic of China (PRC).