Tax on Selling Gold in Brazil

Brazil splits gold in two. Gold as a financial asset (ouro ativo financeiro, bought through the financial system) is taxed at 15% on the month's net gain, and is exempt when your sales in the month total R$20,000 or less. Other gold, such as jewellery, is an ordinary capital gain taxed at 15% to 22.5%, exempt when the sale price in the month is R$35,000 or less.

Facts checked 30 October 2026 · Not financial, legal or tax advice

At a glance

What you sell	How the gain is taxed	Notes
Gold as a financial asset (bars or custody through a bank, DTVM or exchange)	15% on the month's net gain.	Exempt if your gold-asset sales in the month total R$20,000 or less (a separate limit from shares).
Jewellery and other gold not classed as a financial asset	Capital gain at 15% up to R$5 million, rising to 22.5% above R$30 million.	Exempt if the sale price in the month is R$35,000 or less.
Gold ETFs and funds on B3	Variable-income rules: 15%, or 20% on day trades.	The R$20,000 exemption doesn't cover ETFs.
Silver	Ordinary capital gain, as for jewellery.	Only gold can be a financial asset under Law 7,766/1989.

How gold gains are taxed

Under Law 7,766/1989, gold of any purity is a financial asset when it's destined for the financial market with an institution of the national financial system. Gains are variable income: 15% on the monthly net gain.
Law 11,033/2004 exempts an individual's gains when total sales in the month are R$20,000 or less, counted separately for shares and for gold.
Gold that isn't a financial asset, including gold bought or made into jewellery for personal use, is taxed as a capital gain at progressive rates: 15% up to R$5 million of gain, 17.5% to R$10 million, 20% to R$30 million, 22.5% above. Items sold for R$35,000 or less in the month are exempt as small-value assets.
IOF-ouro of 1% is charged once, on the first purchase of gold as a financial asset (usually by the institution), and not again when you sell.
From the 2026 income year, Law 15,270/2025 adds a minimum tax of up to 10% for individuals with total income above R$600,000. Exchange and organised-market net gains count toward that income; other capital gains don't.
MP 1,303/2025, which proposed a single 17.5% rate on financial investments, lapsed on 8 October 2025, so the rules above stand. A 2026 bill (PL 5,444/2026) to raise the R$20,000 limit to R$60,000 has not been passed.

Reporting

Gold as a financial asset: work out the tax monthly and pay by DARF by the last business day of the following month.
Other gold: calculate in the Receita's GCAP program and pay by DARF (code 4600) by the last business day of the following month; GCAP data goes into the annual return.
Gold bought for more than R$1,000 goes in the Bens e Direitos section of the annual return.

Losses

Net losses on gold as a financial asset can be carried forward against later variable-income gains.
A capital loss on jewellery or other non-financial gold can't be offset against gains on another sale.

Whether gold you hold counts as a financial asset depends on how it was bought: through an authorised institution with gold-asset paperwork, or as goods from a jeweller. Ask the seller or your broker if unsure. Loss carry-forward for gold as a financial asset follows the general variable-income rules; we didn't find a gold-specific Receita statement.

Tax on selling gold in other countries: United States · Canada · Mexico · United Kingdom · Ireland · Germany · France · Italy · Switzerland · Turkey · UAE · Saudi Arabia · Kuwait · Qatar · Egypt · South Africa · India · Pakistan · Bangladesh · Sri Lanka · Nepal · Singapore · Malaysia · Hong Kong · Thailand · Vietnam · Indonesia · Philippines · Japan · South Korea · Australia · New Zealand · all countries

Tax on Selling Gold in Brazil: FAQ

Is selling gold tax-free in Brazil under R$20,000?

For gold held as a financial asset, yes: if your sales of financial-asset gold in a month total R$20,000 or less, the gain is exempt. For jewellery and other gold, the limit is R$35,000 of sales in the month.

What rate applies to gold gains in Brazil?

15% on net gains from gold as a financial asset. Gold sold as goods, such as jewellery, is taxed as a capital gain at 15% up to R$5 million of gain, rising to 22.5% above R$30 million.

Did MP 1303/2025 change the tax on gold?

No. MP 1,303/2025, which would have introduced a single 17.5% rate on financial investments, lapsed on 8 October 2025 when the Chamber of Deputies took it off the agenda, so the 15% rate and R$20,000 monthly exemption remain.

Sources (6)

General information about the rules for individual investors, checked October 2026. Tax depends on your circumstances and residence; check with the tax authority or an adviser. Not tax advice.