VAT on silver in Switzerland
Why is silver taxed at 8.1% unlike pure gold?
At a glanceSwiss VAT treats silver very differently from gold. Unlike pure gold (exempt under Art. 44 of the VAT Act), physical silver is taxed at 7.7% regardless of its purity.
Affected Products: Silver bars, investment coins (Silver Maple Leaf, Silver Philharmoniker), granules, and sheets. All subject to 7.7% VAT when purchasing in Switzerland.
Jewelry and Silverware: Silver jewelry and tableware are taxed at 7.7% as standard consumer goods. No derogation.
VAT Recovery for Professionals: A jeweler or silversmith subject to VAT can recover the VAT paid on silver purchases (pre-deduction). The condition is that the metal is used to produce taxed goods or services, which is generally the case for professional jewelry.
Zollfreilager Strategy: Buying silver in a Swiss bonded warehouse (suspended DDP logistics) allows for deferring VAT payment as long as the metal stays in the warehouse. As soon as you move the metal to Swiss customs territory, VAT taxation applies. Relevant for large positions or traders exporting to the EU.
Buy Investment Silver in High-Security Vaults
Buy and store physical gold in secure Zurich or Geneva vaults at direct live LBMA spot rates.