Special system for gold investment

Which transactions involving "investment gold" are exempt?

In the special regime for investment gold, the following transactions are exempt, unless the transferor waives the exemption (when a range of conditions are met):

• 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 service provisions pertaining to the investment gold (except for certain mediation services)
  • To intra-Community acquisitions of investment gold preceded by a supply in a home member state where the exemption has been waived.

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

  If this exemption coincides with the provision of article 25 (supplies of goods destined to another member state), the provisions for investment gold prevail, unless the waiver is exercised.