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In most countries capital gains tax applies when precious metals are sold at a profit. Some countries also apply value added tax to precious metals. In the European Union, the trading of recognized gold coins and bullion products is VAT exempt, but no such allowance is given to silver. Elsewhere in Europe though, Norway has exempted both gold ...
"Additionally, you may face state and local taxes, which could bring your total tax rate to as high as 54% — 37.6% in federal income tax, plus 3.8% in net investment income tax, plus 12.3% in ...
Statutorily and administratively, the FIRS has the responsibility for the assessment, collection and accounting of taxes to the Government: [9] The timely provision and publication of accurate data and annual reports to the Federal Government of Nigeria and other stakeholders to inform national economic planning, academic research, tax policy and development legislation [10]
Individuals paid capital gains tax at their highest marginal rate of income tax (0%, 10%, 20% or 40% in the tax year 2007/8) but from 6 April 1998 were able to claim a taper relief which reduced the amount of a gain that is subject to capital gains tax (thus reducing the effective rate of tax) depending on whether the asset is a "business asset ...
The popular SPDR Gold , iShares Gold , and iShares Silver all get treated the same as gold and silver bullion itself, and you'll owe the higher rate on gains. A few solutions
However, for individuals looking to sell scrap gold, jewelry or gold coins primarily for their gold content, Cash for Gold USA offers a convenient and trustworthy option with payment choices ...
We tell you how to make money off your gold jewelry. This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job ...
Gold attracts various forms of fraudulent activity. Some of the most common are: Cash for gold – With the rise in the value of gold due to the financial crisis of 2007–2010, there has been a surge in companies that will buy personal gold in exchange for cash, or sell investments in gold bullion and coins.