Investing in gold: what about taxes?

Tax on gold investments in Belgium

Investing in gold is popular choice for those looking for a stable store of value and protection against inflation. Going all-in on gold is not recommended, but in a diversified investment portfolio, gold is a good idea and a safe haven. It is important to understand how Belgian tax laws apply to this form of investment.

How you are taxed depends on how you buy gold. Do you buy gold bars or gold coins online through a trusted webshop or offline through a gold dealer or bank? And are they physically delivered? Then, as a private individual, you pay no taxes, nor withholding tax. Not even on the profit realised when selling these goods.

If you sell these types of goods as a company, the profit realised is subject to corporate tax. On gold bullion, on the other hand, there is a 21% VAT levy.

Taxes on silver in Belgium

When you invest in silver, Belgian tax legislation is slightly different. On an investment of silver bars, you pay 21% VAT each time. On silver coins, there is a margin scheme where you only pay VAT on the difference between the purchase and sales price if the coin is considered legal tender.

Keep track of purchases and sales

It is wise to keep accurate records of the buying and selling transactions of your gold investments, along with the relevant invoices and receipts. This will help you calculate capital gains and meet your tax obligations.

Customised advice

Finally, it is always advisable to consult a professional tax advisor before making important investment decisions. A tax advisor can help you understand the specific tax rules and obligations that apply to your situation. Should you have any further questions regarding this blog, you can also contact us at any time.

Note: This article provides general information only and is not a substitute for professional tax advice. Always consult a tax expert for tailored advice tailored to your specific circumstances.

Have you decided to invest in gold? Take a look at our shop or drop by our office. This is always possible Monday to Friday from 9am to 4.30pm.