Al-Marsad newspaper: The Zakat, Tax and Customs Authority clarified when gold is subject to value added tax.
The authority stated that gold is subject to zero-rate value-added tax if its purity level is 99% and is tradable in the global bullion market only.
The authority added that if the gold purity level is less than 99%, it is subject to value added tax.
She pointed out that gold jewelery is subject to a value-added tax of 15% when sold by a person registered in the value-added tax system.
Dear Ayman, gold is subject to zero tax if its purity level is 99% and is tradable in the global bullion market only, but if its purity level is less than 99%, it is subject to value added tax
– Ask zakat, tax and customs (@Zatca_care) July 23, 2022
Gold jewelery is also subject to a value added tax of 15% when sold by a person registered in the value-added tax system.
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– Ask zakat, tax and customs (@Zatca_care) July 23, 2022