VAT and Silver

Why is buying silver different from gold?

Silver in almost all EU countries is subject to VAT. CelticGold sells silver in Estonia VAT-free. In order to receive your goods VAT-free in your country you need to find a suitable carrier and instruct the shipment for yourself.

If CelticGold would ship; by law we would have to charge VAT of the country we ship to. If you buy silver in Estonia  - by law - you purchase silver without vat. The transfer of ownership takes place in Estonia. Therefore you need to pick-up or instruct shipment.

What are VAT rates on silver in Europe?

An EU country has one to four different vat rates. The normal rate and reduced rate(s). 2013 Vat rates can be viewed here: http://www.vatlive.com/vat-rates/european-vat-rates/eu-vat-rates/

A few examples for 2013 Vat rates:

Country Standard Rate Reduced Rate
Austria 20% 10%
Denmark 25% none
Germany 19% 7%
Ireland 23% 9%
United Kingdom 20% 0%

All offered silver bars & coins in Europe are subject to the VAT Standard Rate. Currently there are only three countries with exceptions:


Germany

Netherlands

Estonia

Silver Coins 7% Vat until 31. December 2012.19% Vat from 1.1.2014 Margin Ruling – a special ruling that charges 21% Vat on the dealers margin. Vat Exempt = Vat Free
Silver Bullion 19% Vat 21% Vat 20% Vat

How does silver shipping work?

Article 34 of the EC-guideline 2006/112/EC limits international sales of VAT-liable goods. The guideline says that the location where the contract is fulfilled is applicable to Vat. This guideline is only applicable when the bullion company ships to their clients.

Example 1:

UK resident buys with German bullion dealer. The German bullion company ships the silver to the UK.
Vat on silver to be charged = 20%. As the location where the seller fulfils its contract is the UK (the customers’ signature from the delivery releases the seller from its contract).

Example 2:

UK resident buys with German bullion dealer. The UK resident instructs a courier service to pick up the silver from the bullion dealers vault. The location where the seller fulfils its contract is Germany as the goods are handed over to the courier company in Germany.
Vat on silver to be charged = 7%.

The ownership in example 1 is transferred in the UK. The ownership of the goods in example 2 is transferred in Germany.

You may search on the internet to find a suitable company who will ship your goods.

How can you offer the guaranteed lowest price on silver in Europe?

We buy silver only from the biggest distributors in huge quantities. This enables us to offer you these low prices. In addition we have one of the most efficient and lean structure in the industry; keeping the running costs at a minimum which in addition allows us to sell at Europe's guaranteed lowest price on silver coins.

If silver is ordered in quantities of 500 will I receive the Masterbox?

Yes, you will receive the original masterbox.

Do I have to pay vat and/or customs duty when my silver package will arrive in my country?

No, if you find a courier company, instruct and pay your silver shipment directly to them, then this a non-commercial EU shipment exempt from import duties, VAT and not applicable to the distance selling rulings.