黄金要征税了！财政部、税务局发文

Core Points - The announcement from the Ministry of Finance and the State Taxation Administration outlines tax policies regarding gold transactions, specifically exempting value-added tax (VAT) for members and clients trading standard gold through designated exchanges [1][2] - The policy includes specific provisions for both investment and non-investment uses of standard gold, detailing the VAT treatment and invoicing requirements for different types of transactions [1][2] Summary by Sections Tax Exemption for Standard Gold Transactions - Members or clients trading standard gold on the Shanghai Gold Exchange and Shanghai Futures Exchange are exempt from VAT when selling standard gold [1] - For physical delivery, VAT policies apply based on the nature of the transaction, with investment purposes receiving immediate VAT refunds and exemptions from additional taxes [1] Investment vs. Non-Investment Use - For standard gold purchased for investment purposes, VAT is refunded immediately, and additional taxes are exempted, with specific invoicing requirements for sales [1] - For non-investment purposes, VAT is also exempt, but different invoicing rules apply, allowing for VAT deductions based on specified rates [2] Implementation Timeline - The new tax policies will take effect from November 1, 2025, and will remain in force until December 31, 2027, with applicability based on the timing of physical delivery [3]