Our valued sponsor

Unique Payment
Please support us by disabling AdBlocker on our website.
Sword and Shield
Please support us by disabling AdBlocker on our website.

gold bullion dealers in EU report purchases to home country?

#2
Yes they will know it, since the tax office will have access to your bank account and if they will see large transaction where you have bought Gold they can start asking questions.

In most countries in the EU Gold is not taxed, so there can be exceptions.
 
#5
CRS is not as broad in scope. But this could result in a VAT trail which reveals the purchase to your tax office.

Different VAT rules apply to gold across member states, and there are sub-variations for LT coins, bullion and jewellery.
 
#7
Bank transfer from offshore company account in Cyprus.
Gold bullion dealer in Germany.
Shipping address to another EU country (not Cyprus, not Germany).

My home country does not have access to the bank account since it is a company account in another EU country.
Of course with CRS they will find out that I am the beneficial owner but that does not automatically send information about which transactions have been made on the account (or will it?).

The question is if the gold bullion dealer reports anything to my home country?
Example: charlemagne bought 10 oz coins and shipped them to EU country X. Is this reported?

blueweb said:
There is no VAT on Gold!
Click to expand...

Correct, not VAT on gold so this should not matter.
 
#9
charlemagne said:
Yes correct. I know that if they really want to find out they will.
But the question is if the bullion dealer automatically reports the purchase to my home country?
Click to expand...

There's no requirement to do so and it would be an extra (non-competitive) cost for the dealer.

Regarding the CRS and transactions, the answer is no. That's out of scope. But the statements can be obtained from a foreign bank of a friendly nation if there's an investigation.
 
#10
On these matters, it's better to be needlessly careful than a little bit sorry. You can get a VAT trail to your tax office although VAT itself is not owed on investment gold purchase. They may check for VAT compliance on gold imports precisely because not all gold is exempt.

Hypothetically.

Gold package arrives at the toll. The toll agent documents that no VAT is owed under EU directive which exempts investment gold of 995 purity and higher. And he also documents who and when imported the package.

Rather bring in the gold in person on a travel route that involves no toll/post office/luggage checks. For this, car/ferry/bus/train are the best options.
 
#11
there is no VAT on Gold in most countries, so avoid countries that may apply VAT and no CRS or other will know about what you purchased if you are clever enough.
 
#16
In Germany you can buy for up to 2000 euro in one transaction without ID or anything. Just be a few guys and you can easily buy for 10K on a day. Some shops will even allow you to come back after a few hours, so you can double this amount per day.
 
  • Like
Reactions: Benzouser
#17
tacokai said:
In Germany you can buy for up to 2000 euro in one transaction without ID or anything. Just be a few guys and you can easily buy for 10K on a day. Some shops will even allow you to come back after a few hours, so you can double this amount per day.
Click to expand...
That was some really good news! any clue what are of Germany does stores that u have in mind ?. , also if possible to trade with Bitcoin for Gold.
 
Last edited:
#18
I'm not going to mention my favored stores on a public forum :D But go around for instant in Berlin and ask where they sell and buy Gold. I'm sure that you will find one or another.
 
You must log in or register to reply here.

Forum Announcement

Latest Threads

Top Bottom
Back