tirsdag 3. november 2015

Gold Eagles and Customs Revisited

All Gold Eagles are taxable, but some Gold Eagles are less taxable than others.

By paraphrasing the best known sentence in Orwell’s book, Animal Farm, I’ll make a summing up on the Newspeak letter from Tollregion Oslo og Akershus. (Customs).They are careful to repeat at the end of the letter that whatever they have been writing to me about Value-Added Tax taxation about the American Gold bullion coin, it is not a law Decision.
   The letter to me is simply information of what they mean is properly to tax based on the information they have been able to gather on the issue at hand. That is… I have to pay 25 % VAT if I bring the Eagle (and other gold bullion coins) into the country.

Retail Gold Coin Sellers don't Pay VAT
In my letter to Customs I made an issue of pointing out that 50 dollars American Eagle gold coins were sold as bullion coins without Value Added Tax from a number of retailers. ThesGovernment proposale retailers, such as Goldsource, K.A Rasmussen, Realverdier and Tavex, to mention a few, were on their web-sites pushing a special sales pitch; the “no VAT on bullion coins” to potential customers.
   I also pointed out that I found it unreasonable that I, as an individual, should pay VAT on the coin while the retailers could bring the Gold Eagle, the gold Australian Kangaroo, The Chinese Panda gold coin, and the Canadian 999.9 Gold Leaf and any other bullion coin into the country without paying VAT.

Outside Customs' Competence
Customs pointed out to me that the question about Value Added Tax that are to be paid when commodities are sold inside the borders of Norway, is outside Customs’ competence. Consequently, they do not want to comment on this issue. This is another nice piece of Newspeak. Customs must know (I presume) that VAT are expected to be paid when commodities are imported to Norway and passed down the line to the consumer. 
   Since bullion gold coins are defined, in the eyes of Customs, as a commodity the above mentioned retailers should pay the same tax as I have to do if they import exactly the same types of gold and silver bullion coins into the country.
   All Gold Eagles are taxable, but some Gold Eagles are less taxable than others. In short, you and I have to pay VAT. The precious metal retailers don’t have to!

The Truth is Hidden in Red Tape
The question of gold and silver bullion coins is almost cloak and dagger stuff. You will run into contradictionary information and face the black wall of bureaucracy and Newspeak from the three official instances; The Ministry of Finance, Customs and the Norwegian Tax Administration (Skatteetaten). They are responsible for the contradictory information on VAT and other kinds of taxation on gold. A Modest Proposal
   Have a look at Prop. 1 LS from the Department of Finances on the issue of VAT on bullion coins. Not quite the same information I received from Customs.

Postings on Importing Bullion Coins to Norway
If you want to bring bullion coins legally into Norway check out:

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