黄金大消息！两部门重磅发布

Core Viewpoint - The announcement from the Ministry of Finance and the State Taxation Administration regarding tax policies related to gold trading aims to exempt value-added tax (VAT) for transactions involving standard gold through designated exchanges, effective from November 1, 2025, until December 31, 2027 [5][19]. Tax Policy Summary - Transactions involving standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange will be exempt from VAT when sold by member units or clients [5][9]. - For transactions that do not involve physical delivery, VAT will not be levied; however, for those that do, specific VAT policies will apply [5][9]. - Member units purchasing standard gold for investment purposes will benefit from immediate VAT refunds and exemptions from urban maintenance and construction tax, as well as education fees [6][10]. - If standard gold is purchased for non-investment purposes, VAT will also be exempt, and ordinary invoices will be issued [6][11]. 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 [7][13]. - Investment purposes include direct sales and the production of gold products with a purity of 99.5% or higher [7][13]. - Physical delivery refers to the act of withdrawing gold from designated warehouses after transactions have been completed [7][13]. Reporting and Compliance - Member units must report any changes in the use of standard gold before the change occurs and can only apply for a change in use once within six months of physical delivery [7][15]. - The announcement will replace previous tax policies related to gold trading, which will be invalidated starting November 1, 2025 [19][27]. Implementation and Management - The tax management measures for gold trading will be further clarified by the State Taxation Administration [21][28]. - Member units and clients are required to maintain accurate records of their gold transactions and ensure compliance with the new tax regulations [36][37].