VAT on Gold in South Africa
Krugerrands are zero-rated for VAT; gold bars and foreign bullion coins carry 15% VAT. Gold jewellery carries 15% VAT; the February 2026 Budget left the rate unchanged. Today 10 grams of 24K gold cost R 20,780 at the world price, with no tax on investment bars and coins.
Rules checked 26 October 2026 · Prices Oct 30, 2026, 21:55 UTC · Not tax advice
Gold in South Africa today, with tax
ZAR · Oct 30, 2026, 21:55 UTC| Weight | World price, 24K gold | Bar or coin, with tax and duty | 18K jewellery metal, with tax |
|---|---|---|---|
| 1 gram | R 2,078 | R 2,078 | R 1,792 |
| 10 grams | R 20,780 | R 20,780 | R 17,923 |
| 1 ounce | R 64,634 | R 64,634 | R 55,747 |
| 100 grams | R 207,804 | R 207,804 | R 179,231 |
| 1 kilo | R 2,078,040 | R 2,078,040 | R 1,792,309 |
The rules in South Africa
| What you buy | Tax | Details |
|---|---|---|
| Bars and bullion coins | 0% | Krugerrands are zero-rated for VAT; gold bars and foreign bullion coins carry 15% VAT. The 0% applies to gold coins issued by the South African Reserve Bank, in practice the Krugerrand. Gold bars and foreign coins bought by individuals are standard-rated at 15%. A separate zero rate for bullion sold to the SARB, the Mint and banks (s.11(1)(f)) was proposed for repeal in the February 2026 Budget; it does not apply to retail buyers. |
| Gold bars and foreign bullion coins | 15% | |
| Jewellery | 15% | Gold jewellery carries 15% VAT; the February 2026 Budget left the rate unchanged. Charged on: full value. |
| Import duty | 0% | No import duty is built into local prices; South Africa mines and refines its own gold (Rand Refinery). |
| Tourist refund | Yes | Foreign visitors can reclaim VAT through the VAT Refund Administrator when the VAT-inclusive total of goods exported at the end of the visit exceeds R250. Goods must leave within 90 days of the invoice through a designated port. VAT is 13% of the price; an administration fee may be deducted. |
Compared with nearby countries
VAT on Gold in South Africa: FAQ
Is there VAT on gold in South Africa?
Krugerrands are zero-rated for VAT; gold bars and foreign bullion coins carry 15% VAT. Gold jewellery carries 15% VAT; the February 2026 Budget left the rate unchanged.
Do you pay VAT on gold bars and coins in South Africa?
Krugerrands are zero-rated for VAT; gold bars and foreign bullion coins carry 15% VAT. The 0% applies to gold coins issued by the South African Reserve Bank, in practice the Krugerrand. Gold bars and foreign coins bought by individuals are standard-rated at 15%. A separate zero rate for bullion sold to the SARB, the Mint and banks (s.11(1)(f)) was proposed for repeal in the February 2026 Budget; it does not apply to retail buyers. Gold bars and foreign bullion coins: 15%.
Is there import duty on gold in South Africa?
No import duty is built into local prices; South Africa mines and refines its own gold (Rand Refinery).
Can tourists claim back the VAT on gold in South Africa?
Yes. Foreign visitors can reclaim VAT through the VAT Refund Administrator when the VAT-inclusive total of goods exported at the end of the visit exceeds R250. Goods must leave within 90 days of the invoice through a designated port. VAT is 13% of the price; an administration fee may be deducted.
Sources (3)
Related
General information on the tax a private buyer pays, checked 26 October 2026. Rules change; check with the seller, the tax authority or an adviser. Not tax advice.