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China Axes Gold Tax Incentive to Boost Revenue

11/1/2025

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Summary

Story summary

China ends a long-standing gold tax incentive, effective November 1, 2025.
Retailers can no longer offset value-added tax on gold bought from the Shanghai Gold Exchange.
The change applies to investment products and non-investment uses such as jewelry.
The change aims to boost government revenue amid a sluggish property market and weak growth.
Gold remains near $4,000 an ounce, with experts predicting $5,000 within a year.

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Story summary

China ends a long-standing gold tax incentive, effective November 1, 2025.
Retailers can no longer offset value-added tax on gold bought from the Shanghai Gold Exchange.
The change applies to investment products and non-investment uses such as jewelry.
The change aims to boost government revenue amid a sluggish property market and weak growth.
Gold remains near $4,000 an ounce, with experts predicting $5,000 within a year.