Physical investment gold bought privately by an IT specialist running a JDG is usually subject to neither VAT nor the tax on civil-law transactions (PCC), and after six months the sale does not trigger income tax. The condition, however, is that the bar or coin meets the statutory definition of investment gold, and the purchase itself is financed from private assets, not from the business. Below we explain where taxes appear in practice and how to lawfully avoid them.
When gold is "investment" within the meaning of the VAT Act
Tax preferences apply only to gold meeting the criteria of Article 121 of the VAT Act. Jewellery, jewellery scrap and collectible medals are subject to different rules.
- Bars and plates — fineness of at least 995 thousandths.
- Coins — must simultaneously have a minimum fineness of 900 thousandths, be minted after 1800, be (or once have been) legal tender in the country of issue, and cost no more than 180% of the market value of the metal they contain (i.e. the mark-up does not exceed 80%).
- List of coins in the EU Official Journal — coins included in the annual list published in the C series are treated as meeting these conditions throughout the list's validity.
On the purchase document it is worth checking that the seller describes the item as investment gold and indicates the VAT exemption. This is the simplest evidence in case of questions from the tax office.
Purchase: VAT and PCC depending on the seller
Mint, dealer or bank
Article 122 of the VAT Act exempts the supply of investment gold from tax, so the price does not include VAT. At the same time, the Act on the tax on civil-law transactions excludes from taxation those acts in which at least one party uses the VAT exemption for that act (Article 2(4)(b)). As a result the buyer does not file a PCC-3 return and pays nothing extra.
Private person
When the seller is a natural person not acting as a VAT payer, a contract of sale of a movable item is subject to PCC. The rate is 2% of the market value and the buyer must pay it. The exemption covers only transactions in which the tax base does not exceed PLN 1,000 (Article 9(6)). Above that amount, the tax is calculated on the whole price, not on the surplus.
The PCC-3 return is filed and the tax paid within 14 days of concluding the contract, without a demand from the tax office. For a one-ounce coin whose price significantly exceeds PLN 1,000, a "hand-to-hand" purchase therefore means an additional cost of several hundred złoty.
| Seller | VAT | PCC for the buyer |
|---|---|---|
| Mint, dealer, bank | exemption (Article 122) | none — the act is excluded |
| Private person, price up to PLN 1,000 | not applicable | exemption |
| Private person, price above PLN 1,000 | not applicable | 2% on the whole value, PCC-3 within 14 days |
Sale: when PIT appears
Disposing of a movable item outside business activity is a source of revenue only when it takes place before the end of six months, counting from the end of the month of acquisition (Article 10(1)(8)(d) of the PIT Act). Example: coins bought on 10 March 2026 can be sold tax-free after 30 September 2026. An earlier sale means the obligation to report income.
Income is the difference between the sale price and the acquisition cost, reduced by expenditure incurred during possession of the item (Article 24(6)). This income is taxed on the scale: 12% up to a base of PLN 120,000 and 32% on the surplus. This also applies to an entrepreneur whose business uses ryczałt or the flat tax — the private sale of gold does not enter the business settlement.
For comparison: profit from the sale of securities, including funds and gold-based certificates, is subject to the 19% tax under Article 30b, regardless of the holding period. The six-month period therefore protects only physical metal.
Why gold should not be bought "on the company"
Under Article 22(1) of the PIT Act, an expense lowers the tax only when it serves to generate business revenue or to protect its source. The purchase of bars by a programmer providing IT services has no such link to the activity, which is why it will not reduce the tax. What is more, bringing gold into the business assets may cause a later sale to be treated as business revenue — without the protection of the six-month term.
Frequent buying and selling of the metal at short intervals is also risky. In the case of regular, organised transactions aimed at profit, the tax office may consider them a continuous trade — i.e. business activity — which changes the rules of taxation.
A practical checklist before buying
- Buy from a private account, not from the business account, and keep the transfer confirmation.
- Check that the bar has a fineness of at least 995, and that the coin meets the criteria of Article 121 or appears in the EU list.
- Choose a seller who issues a document with a note on the VAT exemption — then PCC does not apply.
- When buying from a private person above PLN 1,000, plan to file PCC-3 within 14 days.
- Record the acquisition date and calculate from when the sale will be tax-neutral.
- If you are considering investing on a larger scale or through a company, ask about the consequences before the first transaction.
Long-term retirement saving with a PIT relief is offered by IKZE — it is worth comparing the two solutions.
How Good Balance can help
When the situation is non-standard — e.g. the gold is to enter the business assets, transactions are frequent or the metal comes from abroad — we help prepare an application for an individual tax interpretation, which provides protection against a change of position by the tax office (more in the article on individual tax interpretations). As part of simplified accounting we also settle PIT on the sale of items and make sure that private investments do not mix with JDG settlements.