Submitted on Thursday 4th August 2011
Published on Monday 15th August 2011
Current status: Closed
Closed: Wednesday 15th August 2012
Reduce VAT on Silver Bullion & Coins
Precious metals for investment purposes like gold are not subject to VAT. Silver however attracts full VAT of 20%. In many countries there is no VAT or sales tax on investment grade precious metals including silver. Across most of the EU silver is rated at lower VAT rate of 7%. UK residents pay 20% VAT on purchasing silver for investment but pay 7% if bought in the EU. This seems very unfair for investors wishing to hold silver rather than gold.
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188.8.131.52 Fri, 04 Dec 2020 20:34:30 +0000