VAT on Gold in Italy
Investment gold bars and coins are sold free of VAT. Gold jewellery carries the standard 22% VAT on the full price, including the metal. Today 10 grams of 24K gold cost €1,116 at the world price, with no tax on investment bars and coins.
Rules checked 26 October 2026 · Prices Oct 30, 2026, 21:55 UTC · Not tax advice
Gold in Italy today, with tax
EUR · Oct 30, 2026, 21:55 UTC| Weight | World price, 24K gold | Bar or coin, with tax and duty | 18K jewellery metal, with tax |
|---|---|---|---|
| 1 gram | €111.63 | €111.63 | €102.14 |
| 10 grams | €1,116 | €1,116 | €1,021 |
| 1 ounce | €3,472 | €3,472 | €3,177 |
| 100 grams | €11,163 | €11,163 | €10,214 |
| 250 grams | €27,906 | €27,906 | €25,534 |
The rules in Italy
| What you buy | Tax | Details |
|---|---|---|
| Bars and bullion coins | 0% | Investment gold bars and coins are sold free of VAT. Bars or wafers of at least 995/1000 fine in weights accepted by bullion markets; coins of at least 900/1000 fine, minted after 1800, legal tender (now or formerly) in the country of origin, and normally sold for no more than 180% of their gold value. The European Commission publishes a yearly list of qualifying coins. |
| Jewellery | 22% | Gold jewellery carries the standard 22% VAT on the full price, including the metal. Charged on: full value. |
| Import duty | 0% | No import duty is built into local prices. Gold trades freely in the EU single market and unwrought gold enters the EU duty-free. |
| Tourist refund | Yes | Non-EU residents can reclaim VAT on jewellery through the OTELLO digital system; minimum €70.01 per invoice since 1 February 2024 (down from €154.94), export within three months. VAT is 18% of the price; after operator fees the net refund is typically about 11-15%. |
Compared with nearby countries
| Country | Bars and coins | Jewellery | Import duty |
|---|---|---|---|
| Italy | 0% | 22% | none |
| UK | 0% | 20% | none |
| Ireland | 0% | 23% | none |
| Germany | 0% | 19% | none |
| France | 0% | 20% | none |
| Netherlands | 0% | 21% | none |
| Poland | 0% | 23% | none |
| Switzerland | 0% | 8.1% | none |
| Turkey | 0% | 0% on the gold | none |
VAT on Gold in Italy: FAQ
Is there VAT on gold in Italy?
Investment gold bars and coins are sold free of VAT. Gold jewellery carries the standard 22% VAT on the full price, including the metal.
Do you pay VAT on gold bars and coins in Italy?
Investment gold bars and coins are sold free of VAT. Bars or wafers of at least 995/1000 fine in weights accepted by bullion markets; coins of at least 900/1000 fine, minted after 1800, legal tender (now or formerly) in the country of origin, and normally sold for no more than 180% of their gold value. The European Commission publishes a yearly list of qualifying coins.
Is there import duty on gold in Italy?
No import duty is built into local prices. Gold trades freely in the EU single market and unwrought gold enters the EU duty-free.
Can tourists claim back the VAT on gold in Italy?
Yes. Non-EU residents can reclaim VAT on jewellery through the OTELLO digital system; minimum €70.01 per invoice since 1 February 2024 (down from €154.94), export within three months. VAT is 18% of the price; after operator fees the net refund is typically about 11-15%.
Sources (3)
- EU VAT Directive 2006/112/EC, arts 344-356 (investment gold) (2006-11-28 (consolidated))
- BusinessOnline: tax free shopping in Italy in 2026 (2026-02-03)
- Sky TG24: tax free threshold cut to €70 from February 2024 (2024-01-23)
Related
General information on the tax a private buyer pays, checked 26 October 2026. Rules change; check with the seller, the tax authority or an adviser. Not tax advice.