Silver in Europe

fastrudy

Just came back from Europe and I want to share some things I have learned about purchasing PM's for investment there.
Gold, as an investment, does not get taxed upon purchase.
Silver, as an investment gets taxed upon purchase. The rate of Germany's VAT is

19%!!!!!!
Needless to say, there are not many silver investors in Germany (all of the European Union members must collect a VAT on silver, but the percentage rate varies by country)

MoneyLA

thanks for the info. we have heard about this before. but I am curious about "silver" for retail purposes. is the sale of silver jewelry impacted the same way? or is all jewelry, gold and silver, subject to the same taxes?

is silver jewelry popular or not popular?

are there exemptions for silver coins/numismatic items?

sterling flatware? is it for sale in Europe or is that an "American thing?"

thanks

fastrudy

All jewelry is taxed at 19%.
Gold bullion, ingots are exempt.
Not sure about numismatic items.
You can get most of the VAT tax back on most items if:
1) You are taking them out of the EU, and
2) The seller gives you an exemption certificate along with the receipt.
You must show the receipt, the exemption certificate and the items to customs when you depart. They check to see if the items match the desription on the receipt, then take your luggage to the plane directly (you must check the bags with the airline first, ask for them back and take them to Customs). It sounds complex, but it was quite easy to do at the Frankfurt airport. They stamp it and send you to yet another place to get your VAT back. I suppose if you were rushed for time, it would be a drag. At other airports, presumably you may have to run around to various terminals in order to accomplish all of the steps. I bought a 600 euro feather blanket, and got my 120 euro tax back within twenty minutes. I did not bother with the minor purchases.

TrustNo1

it won't be long before PM's are taxed across the board, especially in small amounts from collectors.

MoneyLA

PMs are subject to state tax in California EXCEPT if you purchase $1,000 or more and then it is tax free.

CaptHenway

I think California just raised the threshhold to $1500.

KCC

<< <i>PMs are subject to state tax in California EXCEPT if you purchase $1,000 or more and then it is tax free. >>





I don't get it. Why exempt OVER a certain amount?

unknowncomic

Because we live in the Peoples Republic Of California










edited for lousy spelling and typing