Investing in bars, coins or Xetra gold?

Numbered gold bars
Image: AFP

Gold specialist Robert Hartmann from the Pro Aurum chain reports on different types of gold investors, the tilted paper gold tax and the reduced upper limit for anonymous gold purchases for cash.

KPolicy not only from the financial sector has apparently worked: The federal government has moved away from the plan of the Federal Ministry of Finance to subject securities based on gold and other precious metals to the withholding tax. This emerges from the government draft for the 2020 annual tax law published on Wednesday. Unlike the original ministerial draft of the Federal Ministry of Finance, this no longer contains any reference to the taxation of securities that certify the delivery of precious metals such as gold to investors. Accordingly, the fact that exchange-traded gold papers such as Xetra-Gold or Euwax Gold II can be sold tax-free after the speculation and holding period of 12 months has expired.

The taxation plan of the Federal Ministry of Finance for gold papers that has now been put on file was replaced by a report by F.A.Z. known. Criticism of the planned change in the law was subsequently voiced, among others from the financial sector – for example from Deutsche Börse as a co-issuer of the Xetra-Gold bond or from Börse Stuttgart, which issues a similar security called Euwax Gold II. The umbrella association of the German banking industry (DK), the Federal Chamber of Tax Advisors and the Association of Foreign Banks also had concerns about the taxation of so-called paper gold.


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