German state is looking for new ways to tax its people all the time. Surprisingly the Wirtschaftswoche reports in its latest issue, that plans for a hike on VAT on silver coins from 7 to 19 percent have been postponed.
Plans? Ever heard about that? Red in the papers? Seen on television? Not me ...
Silver bars are already taxed with 19 % VAT today. So if you use them as an 'investment vehicle' (read: a store of value not to be inflated away by politicians printing more and more fiat mney), you have to bet on a 20 % increase over time. Silver coins have been comparable cheap - 7 % VAT so far.
For both products you do not owe capital gains tax, if you sell them after holding a year or more.
Gold - up to now - has been treated similar to paper money and there is no VAT nor a capital gains tax on it.
How quickly things may change is demonstrated in Austria: holding real estate for more than 10 years and gains would have been exempted from capital gains tax (like in Germany). Not any more - since April 2012 there is only an exemption if you currently live or have lived in the estate for several years.
What steps come next? VAT raise on silver coins? VAT on gold? Hah - i have got the idea: VAT on paper money! Single problem: we most give it a different name, as we cannot expect paper money to 'add value'. How about a 19 % transfer tax on all the fiat money you get transferred - physically or electronically? This would give nations burdened by debt finally a break. At least for one or two years ...
10/28/2012
10/09/2012
Internationale Edelmetall- & Rohstoffmesse - International Precious Metal & Raw Material Fair
At November the 2nd & 3rd the Internationale Edelmetall- & Rohstoffmesse will take place in Munich, Germany.
The list of companies present at the fair is available now and there will be interesting presentations on both days. I will do my best to be present on both days.
Follow the link!
The list of companies present at the fair is available now and there will be interesting presentations on both days. I will do my best to be present on both days.
Follow the link!
10/07/2012
The Magnitude of the Mess We're In
I found a real top story in the opinions section of the Wall Street Journal: The Magnitude of the Mess We are in.
Unfortunately, this is not only affecting the USA.
Unfortunately, this is not only affecting the USA.
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