黄金，大消息！两部门发公告

Core Viewpoint - The announcement by the Ministry of Finance and the State Taxation Administration outlines new tax policies regarding gold transactions, effective from November 1, 2025, to December 31, 2027, which include exemptions and specific tax treatments for different types of gold purchases and sales [11]. Tax Policies for Gold Transactions - Members or clients trading standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange will be exempt from value-added tax (VAT) when selling standard gold [1]. - For members purchasing standard gold for investment purposes, VAT will be refunded immediately, and they will also be exempt from urban maintenance and construction tax and educational fees [1]. - If standard gold is purchased for non-investment purposes, VAT will also be exempt, and a regular invoice will be issued [2]. Definitions and Conditions - Standard gold is defined as gold that meets specific purity and weight standards, including AU99.99, AU99.95, AU99.9, AU99.5, and weights of 50 grams, 100 grams, 1 kilogram, 3 kilograms, and 12.5 kilograms [5]. - Investment purposes include direct sales and the processing of gold into products with a purity of 99.5% or higher [5]. Tax Calculation and Reporting - The calculation of VAT for members purchasing standard gold for investment purposes involves specific formulas for determining unit price, amount, and tax based on actual transaction prices [7][6]. - Members must report any changes in the use of standard gold before the change occurs, and they can only apply for a change in use once within six months of the original purchase [8][10]. Compliance and Penalties - Failure to report changes in use or to issue the correct invoices may result in penalties, including the suspension of VAT refund privileges [10]. - Serious violations, such as fraudulent tax claims, will lead to stricter penalties, including the inability to issue VAT invoices [10]. Implementation Timeline - The new tax policies will be effective from November 1, 2025, and will replace previous regulations from 2002 and 2008 [11].