Do you want to sell gold jewelry and are wondering about the tax obligations associated with your transaction? In France, the Finance Act governs the taxation of precious metals. Gemme Jewelers will explain the different rules that apply depending on the type of item sold and its value.
What taxes apply to the sale of gold in France?
The sale of an item made of precious metal (gold, silver, platinum) requires payment of the flat-rate tax on precious metals. Its amount ranges from 6 to 11% of the sale price depending on the type of item.
In addition to this specific tax, there is the CRDS (Contribution to the Repayment of Social Debt), amounting to 0.5% of the sale amount.
The flat-rate tax is calculated on the sale price or the customs value and replaces capital gains tax.
Tax Rate by Item
The tax rate varies depending on the nature, period, and value of the item sold:
• 11% on gold and silver ingots and coins after 1800
• 6% for an object of art or an antique
• 6% for jewelry sold for more than €5,000
• 6% on the sale of collectible coins, pre-1800
The tax base is the sale price and cannot under any circumstances be reduced by deducting the commission paid to an intermediary.
Who must pay taxes on the sale of gold?
Any individual residing in France, as well as any association registered in France, is liable for the flat-rate tax on precious metals on the sale of gold.
The tax must be paid using Cerfa form no. 11294*13 at the time of sale.
Companies, for their part, are taxed on the sale of gold objects when they pay corporate tax (IS) or income tax (IR). Taxation is carried out through corporate income tax.
Exceptions, exemptions, optimizations
However, several situations constitute exceptions. The flat-rate tax on precious metals does not apply to:
• Persons residing outside France, who are therefore not subject to French taxation.
• Sales of jewelry and other gold art or collectibles whose value does not exceed €5,000 (gold bars and coins dating from after 1800 are excluded from this exemption)
• Sales of gold made to museums labeled "Musées de France," municipal, departmental, regional, or national museums, libraries, or public archives
Note: the conditions for exemption from the flat-rate tax also entail exemption from the CRDS. The value of the jewelry sold is important in the application of tax rules, since sales of jewelry pieces not exceeding €5,000 are exempt from both the flat-rate tax and the CRDS. It is therefore essential to have your jewelry appraised before any sale.
Les Bijouteries Gemme specializes in buying and selling gold. Our workshop is open to any individual who wishes to sell their gold in Lyon or have their jewelry appraised to determine the applicable tax rate. Also take advantage of our online appraisal service!
Would you like to sell your gold in Beaujolais? We look forward to welcoming you to our new Gold buyback in Villefranche-sur-Saône.
Discover here the advantages and disadvantages of selling your gold jewelry at auction.
