Tariffs, Taxes, and Duties on Precious Metals Exported from Canada to the EU
-
Tariffs: Under the Canada-EU Comprehensive Economic and Trade Agreement (CETA), precious metals like gold (99.5%+ pure), silver (99.9%+), and platinum (99.5%+) in forms such as bars, ingots, coins, or blanks face no tariffs when exported from Canada to the EU. TARIC codes (e.g., 7108 12 00 for unwrought gold) list 0% duty, and CETA Annex 2-A eliminates tariffs on industrial goods like these. No retaliatory tariffs from the EU’s 2025 U.S. trade response (e.g., steel-focused, March 12) apply to Canadian precious metals yet.
-
Taxes:
-
VAT: EU importers pay VAT at the point of entry, not PCM directly. Gold (99.5%+) is VAT-exempt under EU Directive 2006/112/EC (Article 344) for investment forms (bars, coins like Buffalo Rounds, Trucker Coins, Maple Leafs). Silver (99.9%+) and platinum face VAT (e.g., 19% Germany, 20% France) unless under national exemptions (e.g., Germany’s silver coin rules). Rates vary by country.
-
Excise: None apply—precious metals are exempt EU-wide.
-
-
Duties: Synonymous with tariffs—0% under CETA for high-purity precious metals from Canada. Processed forms (e.g., jewelry) might incur 2.5-4% (TARIC 7113), but PCM’s coin blanks and bullion align with duty-free status.
PCM Relevance
PCM exports (e.g., 99.9% silver coins, 98 million blanks to the Philippines) from Canada to the EU likely incur no tariffs or duties, with gold VAT-exempt and silver VAT borne by EU clients. No 2025 trade shifts (e.g., U.S.-EU-Canada tensions) alter this yet—monitor TARIC or CETA updates for certainty.
Most Commented Posts