A purchase of gold in a foreign country, other than members of the European Union, is subject to customs duties as well as the payment of French VAT. This is particularly the case when gold is ordered through a specialized website or purchased on site, during a stay. The corresponding package must then be accompanied by a goods declaration form. This will be presented to customs by the postal services, as well as the international transport company responsible for transit. The taxes and charges relating to VAT and gold entry fees will then be presented to the gold buyer, either by mail a few days after delivery of the package or on the date of receipt. The customs duty can vary between 2.5% and 4% for gold jewelry.
Therefore, an investor is often required to pay two VATs, unless the first is refundable. This can happen in certain countries if the goods sold leave the territory of this same country. The seller must still respect this point and remain discreet about it.
In addition to customs taxes, the gold buyer must also take into account fixed costs on the files to be carried out. All of these charges should be viewed very closely to avoid any unexpected overcost issues. They are necessarily more important than those that must be paid if the purchase or sale of gold is carried out on the French market or in a member country of the European Union. However, there are some special cases.
Thus, the purchase of gold bullion is quite unusual, especially in Switzerland. Indeed, in this country, it is possible to find gold bars of one gram, 100 grams or even 500 grams. These mini-bars are mainly intended for small investors but also for jewelry. Of course, they are more accessible for individuals on a low budget, but they are not marketed in France. Therefore, they cannot move around freely. If a gold buyer therefore wishes to buy one of these bars in Switzerland, and then import it legally into the national territory, there are not 36,000 solutions. Better to favor ingots weighing less than 10 grams, which can be easily transformed into pendants. Otherwise, an import declaration will have to be made at the risk of being prosecuted for fraud or dangerous possession. It should also be noted that these types of ingots come with an import VAT, as is the case with all industrial gold. The more careful manufacture of ingots in Switzerland may also be a reason for a person to acquire ingots in that country rather than in France. This is particularly the case for one kilogram ingots.
These generate a significant additional cost at the time of importation and, moreover, are not always available immediately. In order for an industrial gold bar to be transformed into a stock market bar, it must have a certificate. For that, it has to be recast, which involves melting costs as well as testing.
Gold Mining Company Limited
5,0 (1) · Société minière
Adress: 115 Hilla Limann Hwy HEAD QUARTERS Accra GHANA.
Tél: 00233 265 616 203 (Appel Whatsapp)