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Tax on Selling Gold and Silver, by Country

Whether you pay tax when you sell gold depends on where you live. No tax for individuals in the UAE, Saudi Arabia (nationals), Kuwait, Qatar, Singapore, Hong Kong, Malaysia, Switzerland, Turkey, Egypt, South Korea, Sri Lanka and Nepal, unless you trade gold as a business. Tax-free after a holding period in Germany (1 year). Reduced after a holding period in Australia and the Philippines (half the gain after 12 months), Japan (half after 5 years) and France (gain option: nil after 22 years). Flat rates: India 12.5% after 24 months, Italy 26%, Ireland 31%, Bangladesh 5%, Brazil 15%. The US taxes long-term gains on gold as collectibles at up to 28%, and the UK exempts sovereigns and Britannias. Compare all 33 countries below or choose one for the details.

Facts checked 30 October 2026 · Not financial, legal or tax advice

Choose a country

United StatesCollectibles rate, max 28%CanadaHalf of the gain taxableMexicoISR on gain; small gains exemptBrazil15%; tax-free if sales ≤ R$20k a monthUnited KingdomSovereigns and Britannias CGT-free; 18%/24%IrelandCGT 31% above €1,270GermanyTax-free after 1 yearFrance11.5% of sale price, or tax on the gainItaly26% on the gain, any holding periodSwitzerlandPrivate gains tax-freeTurkeyNo income tax on private gold salesUAENo personal income taxSaudi ArabiaNo income tax for Saudi nationalsKuwaitNo tax on gold gainsQatarNo tax on gold gainsEgyptNo tax on individuals' gold salesSouth AfricaCGT: 40% of gain taxed, max 18%India12.5% after 24 monthsPakistanSlab rates; no loss reliefBangladesh5% on gold gains from July 2026Sri LankaNo CGT on personal goldNepalNo tax on private gold gainsSingaporeNo capital gains tax unless you tradeMalaysiaNo CGT for individualsHong KongNo capital gains taxThailandTax-free unless bought to tradeVietnam0.1% bar tax enacted, not yet collectedIndonesiaIncome tax at 5%-35%; 0.25% at salePhilippinesIncome tax; half the gain after 1 yearJapan¥500k deduction; half taxed after 5 yrsSouth KoreaNo tax on physical gold gainsAustraliaCGT, 50% discount after 12 monthsNew ZealandTaxable if bought to sell (IRD view)

All 33 countries at a glance

CountryGold bar held long termThe rule
United StatesUp to 28%Held over a year: collectibles rate, max 28% (+3.8% NIIT); a year or less: income-tax rates
CanadaHalf the gain taxed50% of the gain added to income at your normal rates
MexicoUp to 35% (marginal ISR)Gain added to income and taxed up to 35%; gains up to 3 annual UMA (about MX$128,384 in 2026) exempt
Brazil15%Financial gold: 15% on net gains, exempt if monthly sales ≤ R$20,000; jewellery: 15–22.5% above R$35,000
United Kingdom18% or 24%Sovereigns and Britannias CGT-free; other gold 18%/24% above the £3,000 allowance
Ireland31%CGT 31% (33% before 7 Oct 2026) above a €1,270 yearly exemption; items sold for €2,540 or less can be exempt
Germany0% after 1 yearPrivate sale: tax-free after 12 months; before that, income tax unless total gains stay under €1,000
France11.5% of price; 0% after 22y11.5% flat tax on the sale price, or 36.2% on the gain with 5% relief a year from year 3, nil after 22 years
Italy26%26% substitute tax on gains from bars and coins; whole price taxed without proof of cost; jewellery not taxed
Switzerland0%Gains on privately held gold are tax-free for individuals (not professional traders); holdings face wealth tax
Turkey0% (not taxable)Individuals' gains on physical gold and bank gold accounts aren't taxed; 0.2% BSMV on bank gold purchases
UAE0%No personal income tax on individuals' gains
Saudi Arabia0% (nationals)No personal income tax for Saudi nationals
Kuwait0%No personal income tax, so no tax on gains from selling gold; no VAT on buying it
Qatar0%Individuals aren't taxed on salaries or personal-asset gains, so selling gold is tax-free; no VAT
Egypt0% (not taxed)No income or capital gains tax on individuals' private gold sales; 14% VAT on jewellery making charges
South AfricaUp to 18% effective (CGT)Usually CGT: 40% of gains above a R50,000 exclusion taxed at marginal rate (max 18%); traders pay up to 45%
India12.5%Held over 24 months: 12.5% without indexation; shorter: added to income at slab rates
PakistanSlab ratesGains on jewellery and coins taxed at slab rates; losses not allowed
Bangladesh5% of the gainPersonal gold became a capital asset in 2026-27: gains taxed at 5%, whatever the holding period
Sri Lanka0% (not a CGT asset)CGT (15% since 3 June 2026) covers land, shares and securities, not physical gold; private gold sales untaxed
Nepal0% (not a taxable asset)Gold isn't a taxable non-business asset (only land, buildings, shares/securities are); private sales untaxed
Singapore0% (no capital gains tax)No capital gains tax; gains taxed as income only if you trade gold as a business
Malaysia0% (no CGT for individuals)No capital gains tax for individuals; gold profits taxed as income only if you trade as a business
Hong Kong0% (no capital gains tax)No capital gains tax; profits taxed at 7.5%/15% profits tax only if you trade gold as a business
Thailand0% (exempt if not trading)Gain on gold not bought to trade is exempt (s.42(9)); trading profits taxed as income at 0–35%
Vietnam0% for now (0.1% pending)Gold bar sales taxable at 0.1% of value from July 2026, but not collected until a decree sets the rules
Indonesia5%-35% (marginal rate)Gains are ordinary income at 5%-35%; bullion banks collect 0.25% PPh 22 on sales over Rp10m (creditable)
Philippines0%-35% on 50% of gainNo final CGT on gold: the gain is added to income at 0%-35%, and only 50% counts if held over 12 months
JapanHalf the gain, after 5 yearsComprehensive capital gain at income rates; ¥500,000 annual deduction; only half taxed if held over 5 years
South Korea0% (10% VAT on purchase)Physical gold gains aren't taxable income; 10% VAT when buying bars; KRX gold market tax-free
AustraliaMarginal rate, halvedCGT at your marginal rate; 50% discount after 12 months for residents
New ZealandMarginal rate, up to 39%No CGT, but IRD says gold bought mainly to resell is income taxed at 10.5%–39%; bright-line is land only
For an individual resident selling personal investment gold, not a dealer. Choose a country for exemptions, reporting and losses.
See also: Selling gold by country · Gold sell-back calculator

Tax on Selling Gold: FAQ

Do you pay tax when you sell gold?

In most countries, yes, on the gain (the sale price minus what you paid). Individuals pay nothing in the UAE, Kuwait, Qatar, Singapore, Hong Kong, Malaysia, Switzerland, Turkey, Egypt, South Korea, Sri Lanka and Nepal unless they trade gold as a business, and some coins are exempt, such as UK sovereigns and Britannias.

Which countries don't tax gold gains?

For individuals who aren't dealers: the UAE, Saudi Arabia (for Saudi nationals), Kuwait, Qatar, Singapore, Hong Kong, Malaysia, Switzerland, Turkey, Egypt, South Korea, Sri Lanka, Nepal and Thailand (if not bought to trade). Germany doesn't tax gold held more than a year.

Where is gold tax-free after a holding period?

Germany: gains on physical gold held more than one year are tax-free. France (gain option): the taxable gain falls 5% a year from the third year and is nil after 22 years. Australia and the Philippines halve the gain after 12 months, and Japan after 5 years.

Is tax charged on the sale price or on the profit?

Almost everywhere on the profit. France is the exception: by default 11.5% of the sale price, unless you can prove what you paid and choose to be taxed on the gain. Italy taxes the whole price if you can't prove your cost.

General information about the rules for individual investors, checked October 2026. Tax depends on your circumstances and residence; check with the tax authority or an adviser. Not tax advice.