黄金税收新规来了！两部门发公告

Core Viewpoint - The new tax policy for gold transactions aims to enhance the competitiveness and pricing power of China's gold market, particularly through adjustments to the value-added tax (VAT) for standard gold traded on designated exchanges [2][4]. Group 1: Tax Policy Changes - The announcement states that from now until the end of 2027, transactions involving standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange will be exempt from VAT for sellers [2]. - For transactions that do not involve physical delivery, the exchanges will exempt VAT; for those that do, the policy differentiates between investment and non-investment uses of standard gold, applying VAT policies accordingly [2]. - The policy is seen as an improvement over existing regulations, allowing for better differentiation between gold as a commodity and as a financial asset [2]. Group 2: Impact on Gold Market - Experts believe that the new policy will support the international competitiveness of China's gold market and contribute to the construction of Shanghai as an international financial center [2]. - The policy is expected to enhance the precision and standardization of tax regulations, which may help mitigate tax risks [2]. Group 3: Consumer Impact - The new tax regulations are not expected to have a significant direct impact on the consumption of gold jewelry, as the tax structure for retail purchases remains unchanged [4]. - Consumers typically pay VAT and consumption tax included in the retail price of gold jewelry, which means they do not perceive the tax burden separately [4]. - However, fluctuations in the prices of investment gold could indirectly affect the costs of gold jewelry production, potentially leading to changes in retail prices [4].