Is gold VAT-free in the Netherlands? Investment gold and VAT explained

One of the biggest advantages of investing in gold in the Netherlands is that investment gold is exempt from VAT (btw). Here is what that means and which products qualify.

What counts as investment gold?

According to the Dutch Tax Administration (Belastingdienst), investment gold is:

• Gold bars or wafers of a weight accepted by the gold markets, with a purity of at least 995/1000.

• Gold coins with a purity of at least 900/1000, minted after 1800, that are or were legal tender in their country of origin, and that are normally sold for no more than 80% above the value of their gold.

Every year the European Commission publishes a list of coins that always qualify, including well-known coins such as the Britannia, Maple Leaf and Kangaroo.

What about silver?

Silver bars and silver coins are not investment gold. In the Netherlands, 21% VAT applies to silver. That is why the price of silver includes VAT, while the price of investment gold does not.

Gold jewellery is not investment gold

Jewellery follows different rules: VAT applies to new jewellery. If you want to invest, choose bars or coins.

What does this mean for you?

When you buy a gold bar from a recognised refiner such as PAMP Suisse or Valcambi, you pay the gold price plus a premium, without VAT. If a seller charges VAT on a gold bar of 995/1000 or higher, ask why.

This article gives general information and is not tax advice. For your personal situation, contact your tax adviser or the Belastingdienst.