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Bullion Dealers Estonia

Category: Estonia Bullion Dealers

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Buying Bullion In Estonia

estonia-vat-free-silverEstonia came to prominence in the eyes of many EU silver investors thanks to a loophole in the VAT rules.

Estonia levies 0% VAT on certain silver legal tender coins, as opposed to the majority of EU countries which charge 5-25% VAT.

Importing goods from a retailer in one EU country to another sees VAT levied at the home country rate, but where the goods are both bought and delivered in a single country, i.e. Estonia, then VAT is charged at the local rate – in this case zero rated.

Delivery doesn’t need to be in person for ownership to change hands and the loophole involves the Estonian company delivering the silver to a third party in Estonia on behalf of the purchaser. The purchaser is then considered in law to have taken delivery and the silver is now in the ownership of the purchaser. As a personal possession it can now move across EU borders free of any additional taxation.

The new owner instructs a courier to then collect what is now their own property and deliver it to their home in the higher tax jurisdiction, where it is delivered free of additional VAT.

The new owner has therefore bought and taken physical ownership of zero-rated silver in a high-VAT country.

It should be noted that this is a grey area and could be considered purposeful tax evasion, rather than tax avoidance and one country (Sweden) has already taken action against this method on at least two occasions.
IMPORTANT: Bullion.Directory are not tax advisors and nothing on this website can or should be considered as tax advice. You must always seek advice from a registered tax professional before making any decisions regarding your personal tax affairs as all individual circumstances will vary and tax law is subject to near constant change.