Prospective gold investors in Serbia may be wondering if they have the right to buy gold bars. Under Serbian regulations, individuals are certainly entitled to purchase gold bars, and can explore numerous options. While the National Bank of Serbia mainly deals with gold as part of its foreign exchange reserves, citizens are free to trade gold within the country.
Lawyers note that it is good to know that if you want to invest in gold bullion, buying and selling investment gold in Serbia is completely tax-free.
When selling, the difference between the purchase and sale value can contribute to the company’s overall profit, subject to a 15 percent corporate tax rate. Although gold investments do not directly affect a company’s tax profits, they serve as a long-term financial hedge against inflation and potential economic downturns.
“When valuing gold in a company’s financial statements, it is essential to use the invoice (purchase value) or net sales value, whichever is lower, at the date of the financial statements. Also, it is important that the gold is stored safely. By concluding a Safe Deposit Agreement with a reputable bank, you ensure that your investment remains well protected and easily accessible when needed,” explains the lawyers of the law firm Stojković.
Private transactions involving gold bullion are usually conducted in the private market between individual buyers and sellers, or through authorized dealers and financial institutions. Although the National Bank of Serbia (NBS) plays a role in regulating the import, export and trade of gold, private transactions are not directly linked to the NBS’s gold reserves.
What does the investment gold turnover record contain?
Records on the circulation of investment gold contain data on the type (bar, bar or coin), quantity and description of investment gold (for bars and bars – mass, degree of fineness, as well as the manufacturer’s name and serial number if any, and for coins – the country of origin and degree of fineness).
There must also be documented data on the number and date of issue of the invoice, name, i.e. first and last name, address and PIB, i.e. JMBG, i.e. the identification number of a foreign person (tax identification number, i.e. the identification number specified in the identification document) of the person which trades in investment gold.
Sign up for business updates & specials.
