刚刚，财政部、税务总局发布！事关黄金税收！

Core Points - The announcement from the Ministry of Finance and the State Taxation Administration outlines new tax policies regarding gold transactions, effective from November 1, 2025, to December 31, 2027 [10] Tax Policy for Gold Transactions - Members or clients trading standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange will be exempt from value-added tax (VAT) when selling standard gold [1] - For physical delivery of gold, VAT policies will apply as follows: - If members purchase standard gold for investment purposes, VAT will be levied and refunded immediately, and they will be exempt from urban maintenance and construction tax and education fees [1] - If members purchase standard gold for non-investment purposes, VAT will be exempt, and they will issue ordinary invoices [2] - Clients purchasing standard gold will also be exempt from VAT and will receive ordinary invoices [2] Definitions and Conditions - The term "standard gold" refers to gold that meets specific purity and weight standards, including AU99.99, AU99.95, AU99.9, AU99.5, and weights of 50 grams, 100 grams, 1 kilogram, 3 kilograms, and 12.5 kilograms [4] - Investment purposes include direct sales and processing into gold products with a purity of 99.5% or higher [4] Invoice and Tax Calculation - The calculation of VAT for members purchasing standard gold for investment purposes involves specific formulas for determining unit price, amount, and tax amount based on actual transaction prices [5] - If the purpose of the gold changes after physical delivery, members must report this change to the exchange within six months [6] Compliance and Penalties - Members failing to report changes in gold usage or not issuing invoices as required may face penalties, including a shift from immediate VAT refund to VAT exemption [8][9] - Serious tax violations related to gold transactions may result in the inability to issue VAT invoices [9] Implementation Timeline - The new tax policies will be effective from November 1, 2025, and will replace previous regulations from 2002 and 2008 [10]