INVESTMENT GOLD VAT
April 1st, 2005 BY KEITH NUTHALLNATIONAL governments in the European Union (EU) are being offered the power to close a tax loophole involving the processing of investment gold, which has in the past lost their treasuries hundreds of thousands of Euro in VAT. The European Commission has proposed that national governments may automatically - if they choose - require those working investment gold into jewellery and ornaments to account for VAT on the supply of the precious metal raw material. This does not happen under the EU's sixth VAT directive, which makes the buying and ...
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