Announcement of the State Taxation Administration on Matters Concerning the Collection and Administration of Taxes Related to Gold
Announcement of the State Taxation Administration on Matters Concerning the Collection and Administration of Taxes Related to Gold
Announcement of the State Taxation Administration on Matters Concerning the Collection and Administration of Taxes Related to Gold
Announcement of the State Taxation Administration [2025] No. 23
October 29, 2025
In accordance with the Announcement of the Ministry of Finance and the State Taxation Administration on Tax Policies Related to Gold (Announcement [2025] No. 11, hereinafter the “Announcement No. 11”), the matters concerning the collection and administration of taxes related to gold are hereby announced as follows:
1. Where a member or client trades standard gold through the Shanghai Gold Exchange or the Shanghai Futures Exchange (hereinafter the “Exchange”), the selling member or client shall, based on the actual transaction price and against the settlement invoice issued by the Exchange, issue a general invoice to the Exchange; where no physical delivery and withdrawal occur, the Exchange shall, based on the actual transaction price, issue a settlement invoice to the buying member or client.
2. Where a member purchases standard gold from the Exchange for investment purposes and physical delivery and withdrawal occur, the following provisions shall apply:
(1) The Exchange shall issue a special VAT invoice to the buying member based on the actual transaction price, with upper-left corner of the invoice bearing the words “Investment-purpose Gold Purchased by Member.”
(2) Before the physical delivery and withdrawal of standard gold, the buying member shall specify on the delivery note submitted to the Exchange that the purchased standard gold is intended for investment purposes.
(3) The buying member may credit the input VAT amount indicated on the special VAT invoice bearing the words “Investment-purpose Gold Purchased by Member” issued by the Exchange.
(4) Where the buying member directly sells the standard gold or processes it into gold products for investment purposes and sells them, it shall issue a general invoice to the purchaser at the applicable tax rate or collection rate as prescribed, and may not issue a special VAT invoice.
3.
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Announcement of the State Taxation Administration [2025] No. 23
October 29, 2025
In accordance with the Announcement of the Ministry of Finance and the State Taxation Administration on Tax Policies Related to Gold (Announcement [2025] No. 11, hereinafter the “Announcement No. 11”), the matters concerning the collection and administration of taxes related to gold are hereby announced as follows:
1. Where a member or client trades standard gold through the Shanghai Gold Exchange or the Shanghai Futures Exchange (hereinafter the “Exchange”), the selling member or client shall, based on the actual transaction price and against the settlement invoice issued by the Exchange, issue a general invoice to the Exchange; where no physical delivery and withdrawal occur, the Exchange shall, based on the actual transaction price, issue a settlement invoice to the buying member or client.
2. Where a member purchases standard gold from the Exchange for investment purposes and physical delivery and withdrawal occur, the following provisions shall apply:
(1) The Exchange shall issue a special VAT invoice to the buying member based on the actual transaction price, with upper-left corner of the invoice bearing the words “Investment-purpose Gold Purchased by Member.”
(2) Before the physical delivery and withdrawal of standard gold, the buying member shall specify on the delivery note submitted to the Exchange that the purchased standard gold is intended for investment purposes.
(3) The buying member may credit the input VAT amount indicated on the special VAT invoice bearing the words “Investment-purpose Gold Purchased by Member” issued by the Exchange.
(4) Where the buying member directly sells the standard gold or processes it into gold products for investment purposes and sells them, it shall issue a general invoice to the purchaser at the applicable tax rate or collection rate as prescribed, and may not issue a special VAT invoice.
3.
......