Gold Tax in Switzerland: Capital Gains, VAT Exemption and Wealth Tax

Switzerland offers one of the most favourable tax environments for gold investors globally. Understanding the rules is straightforward — and the news is mostly good for private investors.

Capital Gains Tax: Generally None

Private capital gains in Switzerland are generally not subject to income or capital gains tax at the federal level, provided the investor is not classified as a professional trader. This means: if you buy gold and sell it at a profit as a private individual, the profit is typically tax-free. Exception: if trading frequency and volume suggest professional activity, the tax authority may classify gains as income.

VAT: Investment Gold is Exempt

Investment gold is exempt from Swiss VAT (8.1%), provided: bars have a purity of at least 99.5%; coins have a purity of at least 90% and were post-1800 legal tender. Goldvrenelis (Au 0.900) qualify. Silver, platinum and palladium are NOT VAT-exempt.

Wealth Tax

Gold holdings are subject to cantonal wealth tax (not federal). The rate varies by canton: typically 0.1–0.7 percent of net wealth annually. Gold must be declared at market value on December 31 each year. There is no separate "gold tax" — gold is treated like any other asset for wealth tax purposes.

Reporting Requirements

Physical gold must be declared on the Swiss tax return under "other assets." Anonymous gold purchases above CHF 15,000 (as of 2023) may require identity verification at the dealer under AML regulations.