Core Viewpoint - The new tax policy on gold, effective from November 1, 2023, aims to clarify the distinction between investment and non-investment uses of gold, introducing differentiated VAT rules to address tax evasion issues in the gold market [3][4]. Group 1: Tax Policy Details - The new tax regulations categorize gold based on purity and function, defining investment gold and non-investment gold, with specific VAT implications for each category [3][4]. - Investment gold includes items like gold bars and coins with a purity of 99.5% or higher, while non-investment gold refers to all other uses [3]. - For physical delivery transactions, investment gold will have VAT refunded immediately, but sales must issue regular invoices to prevent tax evasion [4]. Group 2: Market Impact - Following the announcement of the new tax policy, gold jewelry prices have increased significantly, with some brands raising prices by over 5% within days [5]. - The price of gold per gram has risen from approximately 930 yuan to over 1000 yuan, reflecting a 7% increase due to the new tax regulations [5]. - Retailers are expected to pass on increased costs to consumers, leading to higher prices for gold jewelry and bars [4][5]. Group 3: Investment Shifts - The new tax policy is likely to decrease the attractiveness of non-exchange physical gold investments, while bank products like gold accumulation plans and ETFs may become more appealing [8][10]. - Several banks have raised the minimum investment thresholds for gold accumulation plans, indicating a shift in consumer behavior towards more structured gold investment products [8][10]. - The domestic gold ETF holdings have seen a significant increase, with a year-on-year growth of 164.03% in the first three quarters of 2025, suggesting a growing preference for ETF investments over physical gold [10].
黄金税收新政后 在哪儿买 “金条”更划算｜LIN眼相看
Sou Hu Cai Jing·2025-11-13 05:08