The Circular of the State Administration of Taxation on Issuing the Measures on Administration of the Collection of Value Added Tax on Gold Transactions
The Circular of the State Administration of Taxation on Issuing the Measures on Administration of the Collection of Value Added Tax on Gold Transactions
The Circular of the State Administration of Taxation on Issuing the Measures on Administration of the Collection of Value Added Tax on Gold Transactions
Guo Shui Fa Ming Dian [2002] No. 47
October 28, 2002
Local offices of the State Administration of Taxation of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the State plan,
In order to implement the requirements of the decision made by the State Council concerning gold system reform and strengthen the administration of the collection of value added tax on gold transactions and in accordance with the provisions of the Circular on Issues of Gold Tax Policies issued by the Ministry of Finance and the State Administration of Taxation, the Measures on Administration of the Collection of Value Added Tax on Gold Transactions are hereby issued to you and shall be implemented accordingly. The problems found during the process of collection of value added tax on gold in all places shall be reported to the State Administration of Taxation in a timely manner.
Appendix: Measures on Administration of the Collection of Value Added Tax on Gold Transactions in Gold Exchanges
Article 1 Types of gold transactions
1. Standard gold products
4 grades of fitness: AU9999, AU9995, AU999 and AU995.
5 types of specification: 50g, 100g, 1kg, 3kg and 12.5kg.
2. Non-standard gold products
Gold products other than the ones of the aforesaid 4 grades of fitness and 5 types of specification
Article 2 Relevant tax policies on gold transactions
1. In order to facilitate the administration on collection of value added tax, as for the transactions of standard gold products conducted via gold exchanges by the members entering to the register and the clients registering for record in accordance with the provisions of the regulations of gold exchanges (with the Settlement Invoices for Gold Transactions (the settlement copies) issued by the gold exchanges), where no practical deliveries occur, the member units or the clients acting as sellers shall issue common invoices according to the actual practical delivery price to the gold exchanges, and the value added tax is exempted; where the practical deliveries occur, the competent tax authorities of the gold exchanges shall issue the exclusive value-added tax invoices (the invoice copies, bookkeeping copies and stub copies of the exclusive value-added tax invoices shall be kept by the gold exchanges, and the credit copies shall be sent to the member units taking deliveries), according to the actual practical delivery price on behalf of the gold exchanges, to the member units or the clients taking deliveries who are qualified as common VAT taxpayers.
......