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Practical manual VAT 2024.

Exemption for certain investment gold transactions

Exemption is established, with the possibility of waiver, when the requirements indicated below for the following operations are met:

  1. Supplies, intra-Community acquisitions and imports of investment gold.

    The concept of supplies includes loans and swap transactions, as well as derivative transactions of future or forward contracts, provided that the object of such transactions is investment gold, and that they implicate the transfer of the right to dispose of the good.

    The exemption is not applied:

    • To the provision of services that have investment gold as their object.

    • Intra-Community acquisitions of investment gold when the entrepreneur making the delivery waives the exemption under the special regime provided for in the Member State of origin.

  2. Mediation services in the exempt transactions, in the name and on behalf of a third party.

In case of concurrence of this exemption with the one provided for in article 25 of the VAT Law (deliveries of goods destined for another Member State), the one provided for investment gold prevails, unless waived .