TIRANA, 18 September
Through a new guideline made public by the General Directorate of Taxation, has notified all the businesses of gold processing and trade, its value-added tax.
Supply of processed gold
Referred to the Law nr. 92/2014, dated 24.07.14 ‘For the value-added tax in the Republic of Albania’, changed, on the taxable value of processed gold, imported and the processed gold supplied internally, it is not included the value of gold used as raw material. Also, the taxable value of an import or supply within the country, are included such materials as: silver, gems, plastic materials, the value of living work, expected losses of processing, etc.
The gold raw material, used for the production of jewelry, is measured and converted in gold with the highest content of pure gold in it (999.9%), or 24 karat gold. In processing conditions, where gold used as raw material is infused with other materials, it creates different gold categories that differ from each other from the percentage of pure gold.
The quality of gold marked on the receipt
In every jewelry shop, is stamped the figure /1000 (or per thousand) of pure gold in it. This figure is obligatory to be included in the imported receipt, as well as on the tax bill for supply within the country. If the number marked is 750, then the connection is classified 18 karats, and contains 7.5-gram pure gold out of 10 gram of general connection.
The value-added tax on imported processed gold
The value-added tax on processed gold, in case it is imported is defined in accordance with the customs and taxation legislation. To the taxable value is deducted only the value of gold used as raw material. The basic justifying document is the bill of the foreign vendor, released at the address of the local buyer. In the general value of imported gold, in the bill is obligatory to be marked also the value of gold converted in pure gold, and in currency.
Attention!
The lack of such division of the supply value does not entitle the importer to not include the taxable value of the import, the value of gold used as raw material. The value that is shown in the bill, is deducted the value of gold used as raw material, and the summary is equal to the taxable value that is taken as a basis to define the value-added tax.
The value-added tax on processed gold supplied internally
The value-added tax on processed gold, supplied internally is counted by deducting from the complete purchase of supply, the value of gold used as raw material. The basic justifying document is the bill of the supplier, taxable subject, released in the name of the buyer, which shows divided separately the total value of supply, the value of gold used as raw material.
Attention!
The lack of such division of the value supplied internally doesn’t entitle the supplier to not include the taxable value of the supply, the value of gold used as raw material. Regardless of the method of supply, wholesale or retail, and the value of supply, from the supplier, taxable subject, a bill is issued which is defined in the article 101 of the law.
Source/Monitor.al
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