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No more EU VAT free silver


VelociteeSteel

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I've just received this email from European Mint with regards to a Law change: Titled: no more VAT free silver in 2022

As expected for many years, due to the pressure from Brussels, the Estonian Government will introduce a new VAT Act amendment in 2022, the new amendment wants to effectively end the VAT-Free Silver, Platinum and Palladium in Estonia. 

Estonia is currently the only EU country which has a VAT Act, which legally allows people to buy precious metal coins without VAT, that same law will now come to an end in 2022, and a new more restrictive law will come into place! 

So much for Brexit being an issue, the EU were onto this anyway!

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17 minutes ago, Narayan said:

But do we have any information how much % VAT will be introduced ?

20%

What if I told you...

There is no "cloud" it's someone else's computer!

Government is the only Religion you can't opt out of!

The "money" which controls every aspect of your life is counterfeit! 

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I'm not sure about tax laws of estonia. But usually you don't have to charge VAT for International sales outside the EU. British dealers and the Royal Mint also don't charge VAT for sales to a EU country. You just have to pay your homecountry customs/taxes. You should ask them for VAT free shipment to the UK.

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All of Europa Bullion deliveries come from Bulgaria, at least mine have - I don't know why.

Maybe these Companies can re-register there, although I freely admit knowing nothing about Bulgarian import/export since I have done no further business there after an opportunity back the 1990's.

A society grows great when old men plant trees whose shade they know they will never sit in.

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Hi, I have also received the email from European Mint.  I am disappointed and angry with the EU. I wish more countries will leave this liberal stupid madness...
Anyway, I wanted to ask you guys, about some ideas on how to obtain VAT free silver as someone from Europe.

Will it be possible to get some VAT free silver shipped from somewhere to a European country?

Or is it possible to go pick up some VAT free silver in some other country and fly back with it to your home European country?

I want a list of countries with VAT free silver and possible options.
 

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6 minutes ago, Alino said:

Hi, I have also received the email from European Mint.  I am disappointed and angry with the EU. I wish more countries will leave this liberal stupid madness...
Anyway, I wanted to ask you guys, about some ideas on how to obtain VAT free silver as someone from Europe.

Will it be possible to get some VAT free silver shipped from somewhere to a European country?

Or is it possible to go pick up some VAT free silver in some other country and fly back with it to your home European country?

I want a list of countries with VAT free silver and possible options.
 

Why are you angry with the EU when the UK has always imposed VAT?

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"VAT free¬†silver" has anyway just been a gimmick¬†from European Mint for some time now. Though technically it may be correct and no VAT is applied, you don't see corresponding¬†actual difference in the final price compared to¬†other European dealers who apply VAT. E.g. at the moment 1oz silver coins start at around¬†‚ā¨23.20-23.50 depending on purchase volume, which is fairly low price but nothing out of ordinary¬†you couldn't find at other dealers such as the dreaded gs.be mentioned above. So where exactly is the alleged VAT saving?

Add the cost of shipping which was always very high at EM (easily double the cost of other dealers) and you can see that there really isn't too much to be sorry about if this loophole is going to be closed...

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I had this ready for posting a few hours ago and this was part of the email 

1687365929_Screenshot2021-11-02at18_16_38.png.c573967753d6d7b7a298abe9565c7e5f.png

 

In a weird way I felt kind of happier that the "playing field" was being levelled a bit since we lost the ability to buy cheaper silver and platinum from some parts of the EU.
Noting others comments I have about 10 new silver coins in my basket both with the European Mint and GS.be just for comparison.
Shipping from GS.be has risen dramatically making them more expensive than the European Mint.

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On 02/11/2021 at 21:31, Alino said:

Hi, I have also received the email from European Mint.  I am disappointed and angry with the EU. I wish more countries will leave this liberal stupid madness...
Anyway, I wanted to ask you guys, about some ideas on how to obtain VAT free silver as someone from Europe.

Will it be possible to get some VAT free silver shipped from somewhere to a European country?

Or is it possible to go pick up some VAT free silver in some other country and fly back with it to your home European country?

I want a list of countries with VAT free silver and possible options.
 

Many german PM dealers use VAT margin scheme for silver and platinum, this will probably the best option in EU (if you want the coin in hand).

I'm sure that the the present "VAT free" dealers will try to find a legal workaround or use a VAT margin scheme.

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  • 2 weeks later...

Europabullion sent out the same email a while back. It is a pity that silver has VAT applied - not exactly sure why since bullion coins have a legal tender value. Also, many countries in the EU have a harsh capital gains tax as well, so in effect you pay 20% to buy it and then a good chunk of your profit (up to 40%) is taxed. Silver stacking seems less and less like a sensible investment and more of a hobby really.

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