Members and customers of Shanghai Futures Exchange sell standard gold through Shanghai Futures Exchange (holding special invoices for gold settlement issued by Shanghai Futures Exchange), and if physical delivery occurs but they do not leave the warehouse, they are exempt from VAT; In case of physical delivery, the tax authorities will issue special invoices for value-added tax according to the actual delivery price, implement the policy of immediate collection and refund of value-added tax, and exempt from urban maintenance and construction tax and education surcharge. The formula for calculating the unit price, amount and tax amount of the special VAT invoice is as follows:
Unit price = actual delivery unit price ÷( 1+ VAT rate),
Amount = quantity × unit price,
Tax amount = amount × tax rate.