DATE: 02.08.2012
NUMBER: B.07.1.GIB.4.34.17.01-VAT.17-2409
SUBJECT: About the import of gold bullion and the clarity of the wording gold on jewelery and coins made of gold or containing gold.
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INTEREST: …
In the specification request form registered in the reference; Information is requested regarding the VAT exemption and clarity of gold bullion with a purity of less than 995/1000 for domestic and import purposes, and the clarity of gold markings on jewelery made of gold or containing gold and coins.
VAT Law;
1/2. In the article, all kinds of imports of goods and services are subject to VAT,
In Article 16/1-a, imports of goods and services whose deliveries are exempt from tax according to this Law are exempt from VAT,
In article 17/4-g, gold bullion, silver bullion, precious stones (diamond, diamond, ruby, emerald, topaz, sapphire, emerald, pearl, cubic virconia), foreign currency, money, stamp, valuable papers, stocks, bonds, Lease certificates issued by asset leasing companies and the delivery of metal, plastic, tire, rubber, paper, glass scrap and waste are exempt from VAT. has been ruled.
Regarding the subject, from the letter dated 6/12/2011 and numbered 45338 received from the Undersecretariat of Treasury and the letter of the Undersecretariat of Treasury dated 23/11/2011 and numbered 44531 addressed to the Istanbul Gold Exchange;
With the Decision No. 2011/2382 on the Amendment of the Decision No. 32 on the Protection of the Value of the Turkish Currency, which entered into force by being published in the Official Gazette No. 28115 dated 17/11/2011, the definitions in paragraph (j) of Article 2 of the Decision No. 32 were changed and the definitions of precious metals were changed. gold, silver, platinum and palladium in all forms and forms, "standard unwrought gold" at least Gold in the form of bars or bars with a purity of 995/1000, the qualities of which are determined by the Undersecretariat, and "non-standard unprocessed gold" refers to gold in the form of bullion, bar, dore bar, granule, powder or scrap with a purity lower than 995/1000 (except for 995/1000 purity). Following the amendment, the scope of unprocessed precious metals was expanded to "ingot, bar, dore bar, granule, powder, scrap". It is understood that the expressions are included in this scope and that the expressions in question are related to the form of precious metals rather than the degree of purity, and that "dore gold bullion" and "low carat gold bullion" with a purity level lower than 995/1000 can be considered within the scope of "gold bullion".
Therefore, it is possible to exempt gold bullion from VAT, such as "dore gold bullion" and "low carat gold bullion", whose purity level is lower than 995/1000, by being considered as "gold bullion" within the scope of Article 17/4-g of the VAT Law. .
On the other hand, in section B of the VAT General Communiqué No. 114 titled "Delivery of Jewelery Made of Gold or Containing Gold and Gold Coins";
"In section (2/a) of the VAT General Communiqué No. 9, which includes explanations regarding the calculation of the VAT base in the deliveries and imports of gold bullion jewelery and gold coins, it is stated that the amount of gold bullion contained in the said items and gold coins is calculated on the day of delivery. It has been announced that the price determined by the Central Bank of the Republic of Turkey (CBRT) for gold bullion will be determined by taking into account the price of the product sold and the setting of the product sold.
However, in the 4th article of the CBRT Law No. 1211, titled "Basic Duties and Powers", which regulates the duties and powers of the Bank, l of the Law No. 4651. "Due to the amendment made in the article and the establishment of the Istanbul Gold Exchange, it has been deemed appropriate to take the closing price on the last official business day of the Istanbul Gold Exchange as basis in determining the amount of gold bullion contained in the items and gold coins in question."
Accordingly, republic gold etc. subject to sale. 1 kg with printed gold coins. VAT base, labor etc. for gold bullion deliveries larger and smaller than . It will be determined by deducting the value of pure gold contained in the goods from the delivery price, including costs.
Moreover; Gold and silver deliveries are subject to a special tax base, and in the deliveries of gold and silver jewelery containing precious stones or made from these stones, the VAT base is calculated from the delivery price, the value of the special gold or silver contained in the goods, if any, and the deliveries are subject to Article 17/4-g of the VAT Law. Accordingly, it will be the remaining amount after deducting the cost of precious stones that are exempt from VAT.
I request you to get information.