As of 7 October 2026, the State Tax Service clarified the personal income tax (PIT) treatment of gains from buying and selling investment gold, silver coins, and bullion under Article 166 of the Tax Code. The guidance distinguishes between investment precious metals (exempt if held over 3 years) and jewelry/scrap (taxable at 18% PIT + 1.5% military tax), addressing increased retail investor activity in precious metals as an inflation hedge.
Key Takeaways
- Three-Year Holding Exemption: Individuals selling investment gold/silver bars or coins issued by the National Bank of Ukraine (NBU) are exempt from PIT if the holding period exceeds 3 years from acquisition date.
- Documentation Burden: Taxpayers must retain original purchase documents (bank receipt, NBU certificate) to prove acquisition date and asset classification; otherwise, the STS treats the sale as taxable short-term trading.
- VAT on Retail Purchases: While investment coins are VAT-exempt at purchase, subsequent resale by individuals does not trigger VAT, but corporate sellers must charge 20% VAT on precious metal supplies.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement