Taxation on the purchase and sale of precious metals varies by country
In Germany, France, Belgium, Switzerland, Italy, Great Britain, Ireland, Spain or Canada there is no tax on the purchase of gold. If you sell your gold, you have to pay 11.5 percent tax in France, for example, plus a capital gains tax. Under certain conditions, taxes are due on the sale in Italy or Great Britain, for example. Not so in Germany, as soon as the gold is held for more than 12 months. There is also no VAT on gold when purchased, but this does not apply to silver. If one buys silver, 19 percent taxes are due, except for common silver investment coins, where dealers can apply the so-called differential taxation.
In the USA, Ohio has just become the 41st state to end sales taxes on gold and silver as of July 1. This pleases investors and also precious metals dealers in Ohio, who thus become more competitive with dealers in neighboring states. Taxes on purchases have already been eliminated since 2019. So far, 40 states in the U.S. have eliminated some or all sales taxes. Because, the arguments go, this is unfair to savers and investors. Silver and gold are held as savings. Also, the purchase of shares, bonds, ETFs or currencies is also not taxed.
The taxation of precious metals would also be harmful for citizens who want to protect their assets, for example, from inflation. There are still nine states in the USA that tax the monetary metals, thus punishing their citizens - this should not be.
No problem arises with the acquisition of gold or silver shares in this country. This is another way of protecting one's assets and cheating the devaluation of assets.
In the silver sector, for example, there is Summa Silver - https://www.youtube.com/watch?v=xUItgsG4S3M - with the Hughes property in Nevada and the Mogollon property in New Mexico.
In the gold sector, Victoria Gold is convincing. Its Dublin Gulch gold property covers 555 square kilometers and is located in the Yukon Territory in Canada. Gold has been produced here in the past.
Current corporate information and press releases from Victoria Gold (https://www.resource-capital.ch/en/companies/victoria-gold-corp/) and Summa Silver (https://www.resource-capital.ch/en/companies/summa-silver-corp/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also