Gold and taxes: what to ask

General concepts about taxes when buying, holding and selling physical gold or ETFs from Latin America.

Taxes on gold vary a lot from country to country and change over time. This guide doesn't tell you how much you'll pay: it explains which concepts exist so you know what to ask your accountant or tax authority.

When buying physical gold

In some countries, buying investment gold may be treated differently from other goods for consumption taxes. In others, gold is taxed like any product. There may also be rules for importing metals.

Ask: does buying investment coins or bars carry consumption tax in my country? Are there rules if I bring it from abroad?

When selling at a gain

The gain (sale price minus purchase price) may be taxed as income or as a capital gain, depending on your country. Sometimes it matters how long you held it, whether you're an individual or a company, and whether you kept proof of the purchase price.

Ask: is the gain from selling gold taxed? How do I declare it and what records do I need?

ETFs and accounts abroad

If you invest through an international broker, these may apply:

• Taxes in your country on gains or income earned abroad.
• Reporting obligations for foreign accounts or investments.
• Withholding in the fund's country on dividends (physical-gold ETFs usually don't pay dividends, but other ETFs do; our withholding tool compares US and Irish funds).
• US estate tax, which can apply to non-residents holding certain US assets, such as US-domiciled shares or funds.

Ask: what do I have to declare for an account or investments abroad? Is there a tax treaty between my country and the fund's country?

Good practices

1. Keep every invoice and statement.
2. Record the date and price of each purchase.
3. Talk to an accountant before a large transaction, not after.

FAQ

Why don't you publish each country's rates?

Because they change and depend on your situation. We only publish rates we can verify against official sources, always with the source.

Do gold ETFs pay dividends?

ETFs that only hold physical gold usually don't pay dividends, because gold doesn't generate income. Check each fund's fact sheet.