Core Viewpoint - The announcement outlines new tax policies regarding gold transactions, specifically focusing on the exemption of value-added tax (VAT) for standard gold traded through designated exchanges, and the conditions under which these exemptions apply [2][3][4]. Tax Policies for Gold Transactions - Members or clients trading standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange are exempt from VAT when selling standard gold [2]. - For investment purposes, VAT will be refunded immediately upon purchase, and additional taxes such as urban maintenance and education fees will be exempted [2][3]. - If standard gold is purchased for non-investment purposes, VAT is also exempt, and a regular invoice will be issued [3][4]. Definitions and Standards - Standard gold is defined by specific purity levels (AU99.99, AU99.95, AU99.9, AU99.5) and weights (50g, 100g, 1kg, 3kg, 12.5kg) [4]. - Investment purposes include direct sales and the production of gold products with a purity of 99.5% or higher [4][5]. Invoice and Tax Calculation - The calculation of VAT for transactions involving physical delivery of gold is specified, detailing how to determine unit price, total amount, and tax amount based on actual transaction prices [5][6]. - Members must report any changes in the use of gold purchased for investment purposes to the exchange within six months [6][7]. Compliance and Record-Keeping - Members are required to maintain accurate records of gold purchases, including sales contracts and transaction details, for tax verification purposes [17][18]. - The announcement emphasizes the importance of proper invoicing and compliance with tax regulations to avoid penalties [7][9]. Implementation Timeline - The new tax policies will take effect from November 1, 2025, and will remain in force until December 31, 2027 [8][12].

Core Points - The announcement from the Ministry of Finance and the State Taxation Administration outlines new tax policies regarding gold transactions, specifically exempting value-added tax (VAT) for certain transactions involving standard gold [4][8][22] - The policy has generated significant attention among investors, as indicated by its trending status on social media platforms [2] Tax Policy Details - The announcement specifies that when members or clients trade standard gold through the Shanghai Gold Exchange or the Shanghai Futures Exchange, the seller is exempt from VAT [4][8] - For transactions involving physical delivery of standard gold, different VAT policies apply based on the intended use of the gold: - For investment purposes, VAT is refunded immediately, and additional taxes such as urban maintenance and education fees are exempted [4][8] - For non-investment purposes, VAT is also exempted, but the buyer must issue a regular invoice [5][9] - The definition of "standard gold" includes specific purity levels (AU99.99, AU99.95, AU99.9, AU99.5) and weights (50g, 100g, 1kg, 3kg, 12.5kg) [14][15] Implementation Timeline - The new tax policies will take effect on November 1, 2025, and will remain in force until December 31, 2027 [7][22] Compliance and Reporting - Members must report any changes in the intended use of standard gold within six months of physical delivery, and they are allowed to change the use only once [17][20] - The announcement emphasizes the importance of accurate record-keeping and compliance with tax regulations to avoid penalties [21][45]

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].

Core Viewpoint - The Ministry of Finance and the State Taxation Administration announced new tax policies regarding gold transactions, effective from November 1, 2025, until December 31, 2027 [1] Group 1: Tax Exemption Policies - 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 [3] - For transactions without physical delivery, the exchange will exempt VAT; for transactions with physical delivery, VAT policies will apply as specified [3] - Members purchasing standard gold for investment purposes will benefit from immediate VAT refunds and exemptions from urban maintenance construction tax and education fees [3] Group 2: Taxation on Non-Investment Use - Members purchasing standard gold for non-investment purposes will also be exempt from VAT, with ordinary invoices issued based on actual transaction prices [4] - Clients purchasing standard gold will receive VAT exemptions, and ordinary invoices will be issued based on actual transaction prices [4] - If the actual use of standard gold changes after physical delivery, members must report the change to the exchange before the change occurs [4]

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have issued a new announcement regarding tax policies related to gold transactions, emphasizing the tax implications for both trading members and clients when dealing with standard gold [2][3][4]. Tax Policy for Standard Gold Transactions - Taxpayers selling standard gold outside of the Shanghai Gold Exchange and Shanghai Futures Exchange are required to pay value-added tax (VAT) according to existing regulations [2]. - When trading standard gold through the exchanges, sellers are exempt from VAT if no physical delivery occurs [2]. - For transactions involving physical delivery, members purchasing standard gold for investment purposes will benefit from immediate VAT refunds, along with exemptions from urban maintenance and construction tax, and education fees [3]. - Members selling standard gold directly or processing it into investment gold products must pay VAT and issue regular invoices, not VAT special invoices [3]. - Members purchasing standard gold for non-investment purposes are exempt from VAT and must issue regular invoices [3]. - Clients purchasing standard gold through the exchanges are also exempt from VAT and must receive regular invoices [4].

Core Points - The announcement from the Ministry of Finance and the State Taxation Administration outlines tax policies regarding gold transactions, specifically exempting value-added tax (VAT) for members and clients trading standard gold through designated exchanges [1][2] - The policy includes specific provisions for both investment and non-investment uses of standard gold, detailing the VAT treatment and invoicing requirements for different types of transactions [1][2] Summary by Sections Tax Exemption for Standard Gold Transactions - Members or clients trading standard gold on the Shanghai Gold Exchange and Shanghai Futures Exchange are exempt from VAT when selling standard gold [1] - For physical delivery, VAT policies apply based on the nature of the transaction, with investment purposes receiving immediate VAT refunds and exemptions from additional taxes [1] Investment vs. Non-Investment Use - For standard gold purchased for investment purposes, VAT is refunded immediately, and additional taxes are exempted, with specific invoicing requirements for sales [1] - For non-investment purposes, VAT is also exempt, but different invoicing rules apply, allowing for VAT deductions based on specified rates [2] Implementation Timeline - The new tax policies will take effect from November 1, 2025, and will remain in force until December 31, 2027, with applicability based on the timing of physical delivery [3]

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have announced new tax policies regarding the sale of standard gold, specifying that value-added tax (VAT) must be paid if not sold through designated exchanges [1][2]. Group 1: Tax Policies for Standard Gold - Taxpayers selling standard gold outside the Shanghai Gold Exchange and Shanghai Futures Exchange are required to pay VAT according to existing regulations [1]. - Transactions through the exchanges are exempt from VAT for both selling members and clients, provided there is no physical delivery [1]. - For physical delivery, members purchasing standard gold for investment purposes will benefit from immediate VAT refunds and exemptions from urban maintenance construction tax and education fees [1]. Group 2: Tax Treatment for Non-Investment Purposes - Members purchasing standard gold for non-investment purposes are exempt from VAT and will receive ordinary invoices based on actual transaction prices [2]. - Clients purchasing standard gold are also exempt from VAT and will receive ordinary invoices, with VAT general taxpayers able to calculate input tax based on a 6% deduction rate [2]. - If the purchased standard gold is processed into non-investment products, VAT must be paid, and special VAT invoices can be issued [2].

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have announced tax policies regarding gold transactions, specifically exempting value-added tax (VAT) for certain transactions involving standard gold [1][2]. Group 1: Tax Policies for Member Units - Member units or clients trading standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange are exempt from VAT when selling standard gold [1]. - For member units purchasing standard gold for investment purposes, VAT will be refunded immediately, and they are also exempt from urban maintenance and construction tax, as well as education fees [1]. - If member units sell or process standard gold into investment gold products (excluding legally issued gold currency), they must pay VAT according to current regulations and issue ordinary invoices [1]. Group 2: Tax Policies for Non-Investment Purposes - Member units purchasing standard gold for non-investment purposes are exempt from VAT and must issue ordinary invoices based on the actual transaction price [2]. - If the buyer is a general VAT taxpayer, they can calculate input tax based on the amount stated on the ordinary invoice and a 6% deduction rate [2]. - Clients purchasing standard gold are also exempt from VAT and must receive ordinary invoices based on the actual transaction price [2].

Core Viewpoint - The article discusses the new tax policies regarding gold transactions as announced by the Ministry of Finance and the State Taxation Administration, highlighting the exemption of value-added tax (VAT) for certain transactions involving standard gold [1][2]. Tax Policies Summary - When member units or clients trade standard gold through the Shanghai Gold Exchange or Shanghai Futures Exchange, the seller is exempt from VAT if there is no physical delivery [1]. - For physical delivery transactions, member units purchasing standard gold for investment purposes will receive an immediate VAT refund and be exempt from urban maintenance and education fees, while issuing a special VAT invoice based on the actual transaction price [1][2]. - If the purchased standard gold is sold or processed into investment gold products (excluding legally issued gold currency), the buyer must pay VAT according to existing regulations and issue a regular invoice [1][2]. - For standard gold purchased for non-investment purposes, the transaction is also exempt from VAT, and a regular invoice is issued based on the actual transaction price [3][4]. - Buyers who are general VAT taxpayers can calculate input tax based on the amount stated on the regular invoice and a 6% deduction rate [4]. - Customers purchasing standard gold will similarly benefit from VAT exemption and will receive a regular invoice, with the same input tax calculation applicable for general VAT taxpayers [4].

Core Points - The Ministry of Finance and the State Taxation Administration have announced tax policies related to gold transactions, specifically exempting value-added tax (VAT) for members and clients trading standard gold through designated exchanges [1][2] Group 1: Tax Policies for Standard Gold Transactions - Members or clients selling standard gold are exempt from VAT when trading through the Shanghai Gold Exchange and Shanghai Futures Exchange [1] - For physical delivery of standard gold, VAT policies apply as follows: - If members purchase standard gold for investment purposes, VAT is refunded immediately, and they are exempt from urban maintenance and construction tax, as well as education fees [1] - Members must issue a VAT special invoice based on the actual transaction price when selling or processing standard gold into investment products [1] - If members purchase standard gold for non-investment purposes, VAT is also exempt, and they must issue a regular invoice based on the actual transaction price [2] Group 2: Tax Treatment for Clients - Clients purchasing standard gold are exempt from VAT and must receive a regular invoice based on the actual transaction price [2] - Clients classified as general VAT taxpayers can calculate input tax based on the amount indicated on the regular invoice and a 6% deduction rate [2] - When clients sell or process standard gold into non-investment products, they are required to pay VAT according to existing regulations and can issue a VAT special invoice [2]