Category: Spanish Bullion Dealers
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Buying Bullion In Spain
Spain is Europe’s fourth richest country by GDP. This coupled with a long-time use of gold to preserve family wealth in times of conflict sees Spain continue to buy gold investments as the rest of the world goes digital.
Spain is steeped in history and as such is a numismatic hotspot with coin dealers and collectors keen to trade in this history, buying and selling everything from the truly ancient to more modern coins. This has given Spain a good network of coin dealers and numismatic specialists.
According to the World Gold Council (WGC) the Spanish state owns 281.6 Tonnes of gold as of October 2017, or 16.9% of it’s national reserves. This is down considerably from the 523 Tonnes held in 2005 prior to a heavy sell-off much like the UK’s gold sell-off three years previously.
Are Bullion Sales Taxed in Spain?
Like all countries in the European Union, Spain subjects precious metals to Value Added Tax (VAT) – in Spain’s case at 21%.
Similarly investment gold is rated for VAT at 0% provided it meets certain standards, being a bar or wafer in standard weights and of a purity greater than 995, or a post-1800 legal tender coin of a purity over .900 and a sale price no greater than it’s intrinsic gold weight plus up to 80%.
Silver, Platinum and Palladium bars and coins are not exempt and are therefore rated at 21% for VAT.
Spain is well known for it’s complex tax system and unusually for Europe, if you intend to leave Spain and have lived there for at least 10 years in the prior 15 years, you may face an “exit tax”, which is applied to unrealised gains on certain assets wherever they are in the world – including gold.
IMPORTANT: The above tax details are listed for information purposes only and are believed correct at time of publication. Bullion.Directory are not tax experts. All enquiries about Spanish taxes should be addressed to the appropriate local body. Taxes and taxation are subject to change.
Birch Gold Group
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