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Buying Pms From The Netherlands?

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Hi,

Just wondering if anyone has purchased PMs, particularly silver coins, from the Netherlands. In another thread on here some people mentioned that Holland has a low VAT on silver coins, 6% if I recall correctly. I was thinking of possibly buying some and collecting it in person from Coininvestdirect in Frankfurt, but I'd much rather make a trip to Amsterdam (I have friends there before anyone makes any purile jokes...!).

The thing is, I was looking at Amsterdamgold.com and I can't find any mention on there of the 6% rate. It gives a comparable price to coininvestdirect for goods put into the basket, and allows you to collect from Schipol, but the only mention of tax on there is 19% for silver bars:

In contrast to gold, silver bars are considered an industrial product and are therefore taxed with 19% VAT. This makes silver bars in particular a less attractive option for individual investors because they can't get a VAT refund.

This makes me doubt that the VAT is low for coins, though they don't make any mention of coins specifically. I don't want to purchase and then get stung later for 19%!!! Could they even levy this after the purchase, surely it would be payable up front (and thus part of their quoted price)?

I'm awaiting an email reply from them, but in the meantime I was wondering if anyone has any experience of purchasing from Amsterdamgold, or from Netherlands in general?

Cheers.

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I regularly buy from http://www.tov-hazel...webshop/summary on average once a month

I buy muntsilver which is 72% silver guilder coins and pay zero vat

bars are charged at 19% all over europe and coins at 7% (except UK)

The junk silver bags are at present sold out and there is no word of when more will be available

this is the first time they have ever sold out

I have no idea if vat would be applied to sales to the UK

Muntsilver is still available from

https://www.amsterda...er/silver-coins

but I have never used them so can give no personal reccomendation

a quick call should verify the situation

I should add I am in Belgium

Edited by 1888

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Thank you very much 1888, that's good to know. The guilder coins are definitely one to think about!

(quiet in here isn't it.....)

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You may have to take physical possession of the coins outside the UK to take advantage of the reduced VAT. Some companies have arrangements with couriers whereby you can have them "delivered" to a courier in that country and then couriered to anywhere else as VAT-paid, i.e. with no further VAT to pay. The amount of VAT on silver in this country is a disgrace. Alternatively, you can go to Guernsey and bring back the limit (£390) on personal goods free of all VAT per trip, but you can't use a courier or the post.

Edited by Old Nis

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I'm interested in this as I travel a lot to the Netherlands. Where did you get that Silver coins are only 6% VAT in Holland? Last time I was there VAT on silver was 19%. I though the only countries in Europe where VAT is cheaper than UK were Germany (7%) and Estonia (0%).

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I'm interested in this as I travel a lot to the Netherlands. Where did you get that Silver coins are only 6% VAT in Holland? Last time I was there VAT on silver was 19%. I though the only countries in Europe where VAT is cheaper than UK were Germany (7%) and Estonia (0%).

If you go to

http://www.coininvestdirect.com/en/silver_coins/

you can change the country of origin and check the applied rate yourself although

cid charge a 10% handling charge for all countries outside of Germany (except UK) on silver coins (one reason I dont use them)

the vat rate on silver coins in the EU is 7% and 19% on bars (and jewellery)

If you intend spending a largish amount on silver then its worth costing the price of travel for personal collection

against the UK price

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Like I said

go to coininvestdirect

choose Netherlands and euros and you will see

eg: American eagle net price €24.08 ---- gross price (includes vat) €25.77

that equates to a vat rate of 7%

Handling charges are only applicable for silver coins outside of Germany at a 10% rate -its a scam (this only happens with cid)

I am not confusing this with vat

vat at the higher rate 19% is only applicable to bullion bars

There was talk of raising the vat rate on coins but it never happened

I have bought silver bullion coins in the Netherlands long after Jan 2011 and paid 7%

I have bought junk silver coins in the Netherlands long after Jan 2011 and paid 0%

dems de facts

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vat at the higher rate 19% is only applicable to bullion bars

There was talk of raising the vat rate on coins but it never happened

I have bought silver bullion coins in the Netherlands long after Jan 2011 and paid 7%

I have bought junk silver coins in the Netherlands long after Jan 2011 and paid 0%

dems de facts

Thanks for that 1888. But AmsterdamGold has this in its FAQ, which I find very confusing:

Do I have to pay VAT on gold and silver?

Investment gold is not taxed through the government. Silver bars, however, are taxed. Silver coins, such as the American Silver Eagle, the silver Maple Leaf, and the Vienna Philharmonicer fall under the margin ruling.

What is the VAT margin ruling?

In principle, the sale of silver coins is subject to the 19% tax levied on the purchase value. However, as individuals and entrepreneurs carrying out only exempted activities, they cannot claim the 19% back. It is to there advantage to purchase silver coins under the margin ruling. The margin ruling only allows silver coins to be taxed on the profit margin of the seller instead of the full purchase value. This greatly reduces the taxable amount of your purchase.

A clarifying example

Amsterdamgold purchases silver coins for 1,000 euro, excluding tax, and sells these coins for 1,050 euro, excluding tax. In principle, the sale is taxed at 19%, (of 1050) amounting to 199,50. However, under the margin ruling, the tax is limited to 19% of the profit margin (50euro in this example) which amounts to 7,98 euro.

One of the requirements of the margin ruling is that VAT cannot be mentioned on the invoice. Therefore you will not see VAT on your invoice.

Does it mean that in principle you should be paying additional VAT on profits when you sell, and that you are only charged 7% on purchase? And the fact that VAT is not mentioned on the invoice, you have no way of proving to HMRC that you should not be paying further VAT when you enter the UK?

:unsure:

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According to this:

http://www.goldonomic.com/buy_gold.htm

  • In the Netherlands Silver bars are taxed with 19% VAT. Silver coins are taxed either at 6% (valid for silver coins which were used as real money in the past) or 19% and it is impossible to recuperate the VAT when you sell your Silver position. Try to buy GOOD DELIVERY bars. [schone (gold and silver) and Argentia B.V. (only silver). Old Dutch silver coins are not taxed but contain only 72% pure silver. The balance is copper.

So, if I am not wrong, old silver coins (junk silver) are not taxed, old Silver coins that were legal tender are taxed 6%, all other coins, including Britannia, Eagle, etc, are taxed normally at 19%.

CID are exploiting a loophole or evading tax. I was in the Netherlands early 2011 and I was told that the law changed in 2011.

It would be interesting to know if somebody has recently been to the Netherlands and bought physical silver.

I speak some Dutch. If somebody knowns any relevant Dutch speaking forum, I can post a question there and come back.

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Well thats got me confused as well

all I know is the price I pay for the various types -junk/bullion coin/bullion bar 0%/7%/19%

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  • 244 Brexit, House prices and Summer 2020

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      • down 5% +
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