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, which will impact procurement and production costs [3][4]. - Investment gold includes items with a purity of 99.5% or higher, while non-investment gold is defined as gold used for purposes other than investment [3][4]. - For physical delivery, investment gold members can enjoy immediate VAT refunds, while non-investment gold purchases will see a reduction in input tax deduction from 13% to 6%, increasing costs by 7% [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 a day [5]. - The price of gold jewelry on platforms like JD and Taobao has surged to over 1000 yuan per gram, an increase of more than 70 yuan per gram compared to pre-policy prices [5]. - The cost pressures from the new tax policy may not yet be fully reflected at retail levels, but future price discrepancies are expected between different sales channels [6]. Group 3: Investment Trends - The new tax policy is likely to decrease the attractiveness of non-exchange physical gold investments, while bank products like gold accumulation accounts and ETFs may gain popularity [7][9]. - Several banks have raised the minimum investment thresholds for gold accumulation products following the new tax regulations, indicating a shift in investment strategies [7][9]. - The domestic gold ETF holdings have seen significant growth, with a year-on-year increase of 164.03% in the first three quarters of 2025 [9].
黄金税收新政后 在哪儿买 “金条”更划算
Xin Hua Wang·2025-11-13 08:24