Many coins and bars can be purchased in Austria tax-free
Gold coins and bars are VAT exempt in Austria and throughout the European Union, provided that certain legal conditions are met.
A reduced tax rate of 10 % or the standard taxation of 20% applies in other cases.
Gold bars tax free
Gold bars are tax-free if they fulfil the following two criteria:
- They have a weight accepted on the gold market
- Their fine content is at least 99.5%
Gold coins tax free
Gold coins are exempt from VAT if they fulfil the following four criteria:
- They must have a fineness of at least 90%
- They must have been minted after 1800
- They must be valid as a payment method in their country of origin or have been so in the past.
- The sales price of the coins may not exceed 80% of the market value of its gold content
As a result, investment gold coins, such as the Vienna Philharmonic, Maple Leaf, or Krugerrand, are also exempt from tax. The same applies to the Austrian gold trading coins, such as ducats. In addition, no taxes are levied on the 1999 gold editions: 500 "Johann Strauß" Schilling gold coin and 1000 "Kaiser Karl" Schilling gold coin.
Coins & medals: Reduced tax rate of 10%
This reduced taxation is applied to coins and medals if their selling price without VAT is more than 250% of the pure material value. The metal value is determined taking into account the fine weight. Collection pieces and 100+ year old antiquities, which fulfil this prerequisite, are also subject to 10% VAT. The term "collection pieces" refers to coins which are/were not permitted as legal tender and coins, which are of interest to numismatists.
When does the statutory tax rate of 20% apply?
The statutory tax rate of 20% applies for all other coins. This includes gold coins which were minted before 1800 and coins where the selling price is more than 80% and less than 250% (excluding VAT) of the gold market price. Commemorative coins especially deserve a mention here - for example, the Millennium series, Mozart and Habsburg. Collection pieces and antiquities are also affected by the 20 per cent tax rate, if the conditions for the reduced tax rate are not met. The statutory tax rate also applies to unprocessed gold.
Buy gold tax free
Invest your money - at least partially - in gold. An investment in gold is less risky than other monetary investments, such as shares or funds, for smaller investors. Since gold retains its value!
If you want to buy gold tax free, then you can do so at any time by calling into our Gold & Co. branches in Vienna 1090 or 1220. We would be delighted to advise you on the various options you have for investing money in precious metals. Feel free to contact us at any time if you have questions.
Find out about our current gold price now.