Switzerland tightens controls on buying precious metals.

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John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Switzerland tightens controls on buying precious metals.

Switzerland is now tightening controls of buying precious metals anonymously. Limits have been lowered to CHF5,000 from CHF25,000 to buy PM's without showing a passport.

Carl Veritas's picture
Carl Veritas
Status: Gold Member (Offline)
Joined: Oct 23 2008
Posts: 294
Re: Switzerland tightens controls on buying precious metals.

John,

What is the capital gain tax rates on PMs in Switzerland?         In the US  it is embedded in the legal code,  the IRS classifies gold coins as "collectibles" and taxes it at a punitive rate of 28% if I'm not mistaken.    Wonder why .. . . . . .

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Re: Switzerland tightens controls on buying precious metals.

Hi CV, Not sure about the tax situation over here, but the Swiss equivalent of the IRS is a pit-bull when it comes to collecting taxes - even come in and search all houses when someone dies. They also want gold listed on the yearly tax reporting. So it seems apparent they want to know where the gold holdings are located, and my guess is this is for potential confiscation, if and when, TSHF.

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