Do individuals pay taxes on buying and selling gold? How to pay taxes on investing in gold in China?
No matter units or individuals, investing or buying or selling gold in China is tax-free.
Gold is a special commodity and the most authentic currency. Most countries in the world do not levy taxes on investing and buying and selling gold.
In China, individuals invest in and buy and sell gold, just like buying and selling stocks and foreign exchange, without paying taxes.
The unit produces and sells gold without paying taxes most of the time. The specific policies are:
1. The sales of gold (excluding standard gold) and gold ore by gold production and business units are exempt from VAT;
2. Imported gold (including standard gold) and gold ore are exempted from import value-added tax.
3. The standard gold sold by members of the gold exchange through the gold exchange is exempt from value-added tax if there is no physical delivery; For physical delivery, the tax authorities shall issue special invoices for value-added tax according to the actual transaction price, implement the policy of immediate collection and refund of value-added tax, and be exempted from urban maintenance and construction tax and education surcharge.
The national documents are:
Notice of State Taxation Administration of The People's Republic of China City, People's Republic of China (PRC) on Printing and Distributing the Measures for the Administration of the Collection of Value-added Tax on Gold Transactions (Guo Shui Fa [2002] No.47)
Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Tax Policies for Gold Futures Trading (Caishui [2008] No.5)
Notice of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Printing and Distributing the Administrative Measures for the Collection of Value-added Tax on Gold Futures Trading of Shanghai Futures Exchange (Guo Shui Fa [2008] No.46)
The gold transaction was cheated.
Folk gold trading is still in an irregular state because of the blank of relevant laws and regulations, and if your ability to identify gold is not strong, folk trading is easy to be deceived.
According to the law, you'd better not trade anything privately, and it's best to pay taxes to the state for any commodity transaction. However, for many things, if they are traded privately, the country will not be so meticulous. For gold trading, it is also a valuable item. If there is a dispute, it is difficult for the state to provide you with protection, if you trade privately.
According to relevant regulations and normative documents, the import and export of gold under trade must apply to the People's Bank of China. To export gold and its products, the exporting enterprise shall apply to the People's Bank of China for the Export License of Gold Products in advance. When importing gold and its products, the importing enterprise shall apply to the People's Bank of China for approval in advance, that is, the power of attorney of the People's Bank of China. With the approval of China Banking Regulatory Commission, China Bank announced the opening of personal gold business, thus becoming the first commercial bank in China to be allowed to open this business. That is, transactions can be made through banks.
In short, trading gold privately is very risky! You lose if you don't pay attention!