An increasingly common question is whether it is worthwhile to invest company assets in gold.
Investment gold includes gold bars with a purity of at least 99.5%, as well as gold coins with a purity of at least 90%, minted after 1800, which are or have been legal tender.
Who can benefit from it from a tax perspective?
In the case of ZZPs and VOFs, the Belastingdienst closely scrutinises gold purchases. If the tax authorities do not consider the purchase to have a legitimate business purpose, they may require the entrepreneur to reclassify the gold as private assets (Box 3), where it may be subject to wealth tax (vermogensbelasting).
However, for a BV, purchasing gold can be one of the most favourable options.
Cash optimisation: If the money were left in a bank account, it could be affected by negative interest rates or high inflation, whereas holding it in gold can help preserve its value.
Tax deferral: A major advantage for a BV is that if the price of gold increases, no tax is payable during the year on the unrealised gain. Corporate income tax (VPB) only becomes payable on the profit when the company actually sells (liquidates) the gold.
What else should you consider?
Gold should only be purchased from an official precious-metals dealer registered with the Dutch Chamber of Commerce (KvK) and supervised by the AFM (Netherlands Authority for the Financial Markets). When selling investment gold, it is also advisable to use these dealers.
Payment for the gold should only be made from the company’s business bank account.
Secure storage must be arranged (a certified safe; a certified alarm system connected to the police; or a safe-deposit box and insurance). The related costs can be recorded as business expenses.
Standard business property insurance policies do not cover precious metals and cash, or cover them only up to a minimal amount. Therefore, additional insurance must be taken out.