Do you have to declare the sale of gold?
Yes, it is mandatory to declare the sale of gold. Any person who sells gold - whether in the form of bars, investment coins or jewelry - must pay tax on this operation to the Tax Agency in the Income Tax return (IRPF).
In Spain, individuals selling gold in the form of bars, investment coins, or jewelry must report the transaction to the Agencia Tributaria in their income tax declaration (IRPF). The sale is classified as a capital gain or loss, and only the net profit, calculated as the difference between the sale price and the original purchase price, is subject to tax.
The tax rate on gains ranges from 19% to 28%, depending on the amount, and losses can be offset against other capital gains in the same or following four years. It is essential to keep the original purchase invoice, as failing to prove the purchase price may result in the entire sale amount being considered taxable income.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
