There is no specific tax on gold in Saudi Arabia. However, gold transactions are subject to Value-Added Tax (VAT) at a standard rate of 15%.
This means that when you buy gold, you will pay VAT on the purchase price. Similarly, if you sell gold, you will need to charge VAT on the sale price.
Here are some examples:
- If you buy a gold coin for SAR 1000, you will pay SAR 150 in VAT (15% of SAR 1000).
- If you sell a gold bracelet for SAR 5000, you will need to charge SAR 750 in VAT (15% of SAR 5000).
It is important to note that VAT is applied to the total value of the gold transaction, including any associated fees or charges.
