周末突发！财政部、税务总局，刚刚公告！

Core Viewpoint - The announcement from the Ministry of Finance details tax policies related to gold transactions on the Shanghai Gold Exchange and Shanghai Futures Exchange, emphasizing the exemption of value-added tax (VAT) under specific conditions for both buyers and sellers [1][2]. Tax Policy Details - Members or clients trading standard gold on the exchanges are exempt from VAT when selling standard gold. If there is no physical delivery, VAT is also exempt for buyers. For physical delivery, different VAT policies apply based on the purpose of the gold [2][4]. - For investment purposes, VAT is collected and refunded immediately, and urban maintenance and education fees are exempted. A special VAT invoice is issued based on the actual transaction price [2][4]. - For non-investment purposes, VAT is exempt, and a regular invoice is issued based on the actual transaction price. General VAT taxpayers can calculate input tax based on the amount on the regular invoice and a 6% deduction rate [4][5]. Detailed Tax Calculation - The new regulations provide specific formulas for calculating tax amounts for both exchanges, with a focus on the excess or shortfall amounts and settlement payments [3][5]. - For the Shanghai Gold Exchange, the formulas include: - Unit Price = Actual Transaction Price / (1 + VAT Rate) - Amount = Unit Price × Quantity - Tax Amount = Amount × VAT Rate - Actual Transaction Amount = Transaction Amount + Excess Amount [6][7]. - For the Shanghai Futures Exchange, the formulas are similar, with adjustments for delivery payments and settlement prices based on recent futures contract prices [7].