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VAT practical manual 2022.


The deduction regime will be governed by the provisions of the VAT Law for this special regime.

In general, the fees paid are not deductible to the extent that the goods or services are used in tax-exempt deliveries of investment gold.

Exceptionally, the following must be taken into account:

  1. The delivery of exempt investment gold by businessmen or professionals who have directly produced that gold or obtained it through transformation, generates the right to deduct the fees borne or paid for the acquisition or import of goods or services linked to said production or transformation.

  2. Making deliveries of exempt investment gold by other businessmen other than those contemplated in the previous section generates the right to deduct:

    1. The charges borne from the domestic or intra-Community acquisition of the gold when the supplier has waived the exemption.

    2. The fees borne or paid for the acquisition or import of that gold, when at the time of its acquisition or import it did not meet the requirements to be considered investment gold, having been transformed into investment gold by the person making the exempt delivery or by his account.

    3. The charges borne from services to change the shape, weight or fineness of the gold.