Italian Laws on Gold

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mammamia's picture
mammamia
Status: Bronze Member (Offline)
Joined: Nov 9 2011
Posts: 33
Italian Laws on Gold

 Staying in this site I obviously got interested in buying gold. And here is what came out.

if you want to buy gold in Italy you have two options. You either buy gold in the form of jewelery. Or you buy gold for investment. Buying gold for jewelery means paying about 20% tax on the value of the gold in VAT tax (in Italy: IVA). Instead if you buy gold for investment you only pay 20% on the financial gains you made out of gold once you sell it. So you pay 20% out of the difference between the buying price and the selling price. 

BUT (and is a big but),

you are not allowed to actually have this gold. It must be kept in the bank, and not even in a normal bank vault, but in a special bank vault (which will probably cost more). In other words the government will in this way know exactly how much gold there is, who has it, and where is it stored. All this means that in case the goverment might decide to confiscate it, as it has happened in the past in bad situations, it could easily do it.

All in all it does not seem a great idea. The more I look into it the less italy sound the right place to be when the shit hits the fan.

XXL66's picture
XXL66
Status: Member (Offline)
Joined: Apr 20 2012
Posts: 1
buy silver...

buy silver...

Lukas_Sommer's picture
Lukas_Sommer
Status: Member (Offline)
Joined: Feb 16 2017
Posts: 2
XXL66 wrote:buy silver...a
XXL66 wrote:

buy silver...

 

a lot of silver! 

 

__________

damfakta

 

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