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Those who believe the gold price will continue to rise may be considering putting a portion of their wealth into gold. From a tax perspective, investing in gold is definitely worthwhile:
VAT (Umsatzsteuer)
Under section 25c of the VAT Act (UStG), no VAT is charged on the purchase and sale of investment gold. By comparison, the purchase of silver is generally subject to 19% VAT.
Income Tax (Einkommensteuer)
Gains from the sale of gold held as private assets are not subject to income tax under section 23 of the Income Tax Act (EStG), provided more than one year elapses between acquisition and disposal. By comparison, gains from the sale of shares are subject to 25% capital gains tax (Kapitalertragsteuer), plus the solidarity surcharge and, where applicable, church tax.