The Ministry of Finance and the State Taxation Administration issued a notice regarding tax policies related to gold.

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[Announcement from the Ministry of Finance and the State Administration of Taxation on Gold-related Tax Policies] On November 1, news came that the Ministry of Finance and the State Administration of Taxation issued an announcement on November 1, clarifying the tax policies related to gold. According to the announcement, before the end of 2027, for member units or customers trading standard gold through the Shanghai Gold Exchange and the Shanghai Futures Exchange, the selling member units or customers will be exempt from value-added tax when selling standard gold. If there is no physical delivery and withdrawal, the exchange exempts value-added tax; if there is physical delivery and withdrawal, it distinguishes between the investment and non-investment purposes of standard gold, applying the value-added tax policy of immediate collection and refund as well as the exemption from value-added tax, with the buyer calculating input tax according to a deduction rate of 6%.

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