Silver in Germany getting 12% more expensive?

DrBuster

It's in German, I can't read it, but somebody on kitco posted it. Anybody confirm/deny?? Any trickling effects stateside??

German silver VAT from 7% to 19% in 2013

derryb

From your link title the taxes on silver transactions are going to get more expensive. This should have a negative affect on sales. Look for an increase on PM transaction taxes to spread to other countries.

DrBuster

Derry I think this kind of catches Germany up to a similar VAT on silver as most of the other EU countries, where they are around 15-20%+ if I'm not mistaken. I wouldn't expect any rises in other countries where it's already in play.

derryb

Revenue is a big problem for a lot of countries. I believe they will attempt to compensate for reductions in some areas with increases in other areas. As indicated by Germany, PMs are a good source.

DrBuster

But silver is already heavily vat'd in the EU. You think a gold vat may be on the horizon there in some (or all) places in the EU? That's been the no-no area so far it seems.

derryb

I'm talking outside of Europe

DrBuster

I was trying not to flat out say "when's it coming here". Can't give the forum gov trolls any ideas that we're on board for that crapola.

bronco2078

Sounds like I'll have to come up with some german boilerplate text for my ebay listings.

who speaks german? google gave me this

Sie von mir kaufen werde ich Ihnen helfen, zu vermeiden Zahlung der Mehrwertsteuer mit einem kreativen Zollanmeldung

OPA

Sounds like that the seller is going to help you cheat the "Taxman"

DrBuster

Lots and lots of people are going to have plumbing issues, with supplies being mailed of course.

tneig

Even in german, the us email scanners and tax man knows what this says....


<< <i>Sie von mir kaufen werde ich Ihnen helfen, zu vermeiden Zahlung der Mehrwertsteuer mit einem kreativen Zollanmeldung >>



I guess when they (gov) needs money, they will find every nitch they can and overtax it.

NumbersUsacom

A whole lot of underground ground Silver transactions will be taking place between individuals

PerryHall

<< <i>A whole lot of underground ground Silver transactions will be taking place between individuals >>



Agree. The underground economy is already alive and well in this country. Many PM and coin transactions are already on a cash basis between individuals to avoid paying any income tax.

fastrudy

bronco, that phrase means:

You buy from me I will help you to avoid payment of VAT with a creative declaration.

It looks as if all transactions will be going South and all cash deals.

derryb

looks like gold in germany is also getting attention

German gold audit story has just exploded into the English-language press with some important revelations

tneig

Looks like none of it can be trusted. Bad tracking, loss, stolen, leased, misappropriated, inadequate stock, plagues gold storage - from the individual on up to national holdings. There may be gold, but if you don't hold it, the storage contract may not be better then fiat.