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Brazil [financial-asset gold (BCB-authorised institution)] → Switzerland (refine) → United Kingdom · Loco London OTC sale and settlement

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研究内容本身以英文撰写。标题和标签已翻译，调查结果和引文未翻译。

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巴西 (Doré bar - unstamped) ⟶ 瑞士 (Doré bar - unstamped → LBMA Good Delivery 400oz bar) ⟶ 英国 (LBMA Good Delivery 400oz bar)

第 1 段：巴西

货物起点

  1. 1

    Send the gold from the PCO to head office or the refinery with an NF-e Ouro remittance note, by secure carrier

    执行方
    BCB-authorised financial institution buying gold (DTVM) and its purchase post (PCO)
    所需
    NF-e Ouro - first acquisition of gold from a PLG
    出具
    NF-e Ouro - remittance note (PCO to head office/refinery)
    法律原文

    • IN RFB 2.138/2023; Lei 7.766/1989, IN art. 3 V b-c; Lei 7.766 art. 3 §1

  2. 2

    Refine buttons or doré into 999.9 bars and issue a bar list; the refiner covers the return of the gold with an NF-e Ouro (IN RFB 2.138 art. 3 §2).

    执行方
    Domestic gold refinery
    所需
    NF-e Ouro - remittance note (PCO to head office/refinery)
    出具
    Domestic refiner's bar list / certificate
    形态
    Smelted button/bar → 999.9 kilobar
    行业惯例

    Refining to 999.9 is practice; only the return invoice (IN art. 3 §2) is law.

  3. 3

    Sell gold to another institution or client and issue an NF-e Ouro (negotiation); no further IOF-ouro (it falls only on first acquisition)

    执行方
    BCB-authorised financial institution buying gold (DTVM) and its purchase post (PCO)
    出具
    NF-e Ouro - negotiation between institutions
    法律原文

    • IN RFB 2.138/2023; Lei 7.766/1989, IN art. 3; Lei 7.766 art. 8

  4. 4

    Contract the export sale and close the FX contract with an FX-authorised institution; the gold as exchange instrument is traded only with authorised institutions, supervised foreign institutions or the BCB; the FX contract is a required attachment of the e-DMOV. Proceeds may be received before or after shipment and may be kept abroad.

    执行方
    Authorised institution exporting gold as a financial asset / exchange instrument
    出具
    Contrato de câmbio (FX contract); Commercial invoice
    法律原文

    • Lei 14.286/2021; Resolução BCB 277/2022; IN RFB 1.082/2010, Lei 14.286 art. 3; Res. 277 arts 46, 66 §2; IN 1.082 art. 4 II c

  5. 5

    Issue the NF-e Ouro Ativo Financeiro for the export (DAO operation 5), recording the e-DMOV number and the domestic transporters.

    执行方
    Authorised institution exporting gold as a financial asset / exchange instrument
    所需
    NF-e Ouro - first acquisition of gold from a PLG
    出具
    NF-e Ouro - export of gold (financial asset / exchange instrument); Packing list
    法律原文

    • IN RFB 2.138/2023, art. 3 III

  6. 6

    Book the shipment with the airline, which issues the air waybill for the valuable cargo (the e-DMOV must attach the international transport document, IN RFB 1.082 art. 4 II a); after boarding, the carrier records the boarding data in the e-DMOV within 2 days (art. 23).

    执行方
    Valuables carrier (PF-authorised domestic transporter) and international air carrier
    所需
    Packing list
    出具
    Air waybill; Consignment Security Declaration
    法律原文

    Acceptance as valuable cargo and the consignment security declaration are industry practice.

    • IN RFB 1.082/2010, arts 4 II a, 23

  7. 7

    File the e-DMOV de saída with a digital certificate, attaching the international transport document, packing list, FX contract and the sales invoice, with the sealed volumes at the declared verification place; on registration (active CNPJ, PF-authorised domestic transporter, authorised international carrier) the Receita Federal selects a channel and schedules physical verification; clearance follows an RVES or RVFV without blocking discrepancies; gold with irregular fiscal documents is seized.

    执行方
    Authorised institution exporting gold as a financial asset / exchange instrument
    所需
    Contrato de câmbio (FX contract); NF-e Ouro - export of gold (financial asset / exchange instrument); Air waybill; Packing list
    出具
    e-DMOV de saída (gold as financial asset); RVES / RVFV - customs security-element and physical verification reports in the e-DMOV
    法律原文

    [conflict] br.div-edmov-invoice-conflict: IN 1.082 art. 4 II e and the RFB e-DMOV page still name the "Modelo VI" invoice of IN SRF 49/2001, which IN RFB 2.138 revoked (effective 1 Aug 2023); the model takes the NF-e Ouro (export) as the invoice attached.

    • IN RFB 1.082/2010; Lei 7.766/1989, IN arts 1, 3 §2, 4 II, 9, 10, 11 §2, 19, 21 III; Lei 7.766 art. 3 §2

  8. 8

    Send the pre-shipment notice (weights, fineness, AWB) to the foreign refiner or buyer

    执行方
    Authorised institution exporting gold as a financial asset / exchange instrument
    所需
    Air waybill
    出具
    Pre-shipment notification to refiner/buyer
    行业惯例

税费

  • CFEM (Compensação Financeira pela Exploração de Recursos Minerais) on gold

    1.5% Gold ore, doré, garimpo gold

    法律原文金额未确认

    • Lei 8.001/1990 as amended by Lei 13.540/2017, art. 2, 2-A, Anexo

  • Export duty (Imposto de Exportação) on gold

    None on gold as financial asset (only IOF applies, CF art. 153 §5); on gold as merchandise, only if CAMEX lists it (not confirmed)

    法律原文金额未确认

    • CF art. 153 §5; Decreto 6.759/2009, Decreto 6.759 arts 212 §2, 215

  • Income tax on gains from gold operations

    Capital gains on gold financial-asset operations, taxed as financial-market income

    法律原文

    • Lei 7.766/1989, art. 13

  • IOF-ouro (tax on gold as financial asset)

    1% Gold as financial asset or exchange instrument, on first acquisition only; the sole tax on such gold

    法律原文金额未确认

    • Lei 7.766/1989; Decreto 6.306/2007; Lei 11.196/2005; CF art. 153 §5, Lei 7.766 arts 4, 8-10; Decreto 6.306 arts 36-40; Lei 11.196 art. 70 II a

  • IOF on the FX operation bringing in export receipts

    0% Export proceeds converted into reais

    法律原文金额未确认

    • Decreto 6.306/2007, art. 15-B I

管制

  • No repatriation or surrender requirement: exporters may keep foreign-currency export proceeds abroad (Lei 11.371 art. 1); receipts may arrive before or after shipment, including by credit to an account abroad of the authorised institution (Res. BCB 277 art. 46).

    法律原文

    • Lei 11.371/2006 art. 1, as reworded by Lei 14.286/2021 art. 26

  • PLGs only for Brazilian citizens or garimpeiro cooperatives (Lei 7.805 art. 5); research authorisations and mining concessions only for Brazilians, companies under Brazilian law with head office and administration in Brazil, or cooperatives (CF art. 176 §1; Decreto 9.406 arts 16, 30).

    法律原文

    • Lei 7.805/1989; CF art. 176 §1, Lei 7.805 art. 5

  • Extracting Union minerals without a title is a crime: usurpation, 1-5 years, with the same penalty for whoever acquires, transports, holds or sells the product (Lei 8.176 art. 2 §1); mining without authorisation also carries 6 months-1 year (Lei 9.605 art. 55) and seizure of the product (Lei 7.805 …

    法律原文

    • Lei 8.176/1991; Lei 9.605/1998; Lei 7.805/1989, Lei 8.176 art. 2; Lei 9.605 art. 55; Lei 7.805 art. 21

      “Art. 2° Constitui crime contra o patrimônio, na modalidade de usurpacão, produzir bens ou explorar matéria-prima pertencentes à União, sem autorização legal ou em desacordo com as obrigações impostas pelo título autorizativo. Pena: detenção, de um a cinco anos e multa. § 1° Incorre na mesma pena aquele que, sem autorização legal, adquirir, transportar, industrializar, tiver consigo, consumir ou comercializar produtos ou matéria-prima, obtidos na forma prevista no caput deste artigo.”

  • Persons buying and selling gold as financial asset (Lei 9.613 art. 9 II) and dealers in precious metals (art. 9 parágrafo único XI) must identify clients, keep records (at least 5 years), register with their regulator or COAF and report to COAF (arts 10-11); BCB-authorised institutions follow Circ…

    法律原文

    • Lei 9.613/1998; Circular BCB 3.978/2020, Lei 9.613 arts 9-11

  • No ban on paying for gold in cash was found in the law in force. BCB-authorised institutions record cash operations above R$2,000 with the bearer's CPF (Circular 3.978 art. 33) and report to COAF, by the next business day, cash deposits, withdrawals and payments of R$50,000 or more (art. 49). PL 3.0…

    R$2,000 (record); R$50,000 (COAF report)

    法律原文金额未确认

    • Circular BCB 3.978/2020, arts 33, 49

  • Every exit and entry of gold as financial asset is made by the BCB or an authorised institution, with a PF-authorised domestic transporter, under an e-DMOV; exit always gets a scheduled physical verification (IN RFB 1.082 art. 11 §2); gold with irregular fiscal documents is seized (art. 21 III).

    法律原文

    • IN RFB 1.082/2010, arts 1, 11 §2, 19, 21

      “§ 2º O controle referido no caput será processado com base na Declaração Eletrônica de Movimentação Física Internacional de Valores (e-DMOV).”

  • Gold as financial asset may be bought at first acquisition only by BCB-authorised institutions (Lei 7.766 art. 1; IN RFB 2.138 art. 3 I), whose acquisition invoice proves the purchase (Lei 12.844 art. 39 II); regularly constituted garimpeiro cooperatives may buy at origin and must resell to the BCB …

    法律原文

    • Lei 7.766/1989; Lei 12.844/2013; Lei 11.685/2008, Lei 7.766 arts 1-2; Lei 12.844 art. 39 II; Lei 11.685 art. 9

  • All gold financial-asset operations and their transport must be covered by fiscal documents; irregular gold is seized by the Receita Federal (Lei 7.766 art. 3; Decreto 6.306 arts 46, 56). Since 1 Aug 2023 the document is the NF-e Ouro Ativo Financeiro; an invoice with inaccurate data is inidônea (I…

    法律原文

    • Lei 7.766/1989; IN RFB 2.138/2023, Lei 7.766 art. 3; IN arts 1 §1, 3, 6

  • Before its first acquisition, garimpo gold may be transported only within the gold-producing region (the geological province of the same gold mineralisation where the workings are) up to an authorised buyer.

    法律原文

    • Lei 12.844/2013, art. 38 §§2, 5

  • The presumption of legality of the gold and of the buyer's good faith once the seller's documents were filed (Lei 12.844 art. 39 §4) was suspended by the STF in ADI 7.345 (interim order quoted in the EMI of PL 3.025/2023, which also ordered the Executive to adopt within 90 days a new framework for …

    法律原文

    • STF ADI 7.345 and 7.273; IN BCB 406/2023, IN BCB 406 art. 2

  • Mining in Indigenous lands requires Congress authorisation (CF art. 231 §3), the garimpeiro-cooperative priority of art. 174 §§3-4 does not apply there (art. 231 §7), and a PLG does not apply to Indigenous lands (Lei 7.805 art. 23 a). Gold from garimpo in Indigenous lands cannot be lawfully prod…

    法律原文

    • Constituição Federal; Lei 7.805/1989, CF art. 231 §§3, 7; Lei 7.805 art. 23 a

      “§ 7º Não se aplica às terras indígenas o disposto no art. 174, § 3º e § 4º”

第 2 段：瑞士

途经

Doré bar - unstamped → LBMA Good Delivery 400oz bar

  1. 9

    Onboard Dubai supplier: KYC pack, chain-of-custody statement, mine-of-origin/scrap declaration, DMCC/UAEGD audit reports

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    所需
    Air waybill
    出具
    Refiner file on the Dubai supplier: identity, commercial-register extract, proof of lawful acquisition (export permit/declaration, mining licence where applicable), SECO embargo check, origin clarification (kept for the period the EMKV sets: zehn Jahren); KYC questionnaire for mined material, naming each ASM supplier in the chain (team/cooperative, aggregators, local exporter); Independent assurance report on the Dubai refiner's responsible sourcing practices, as an Intermediate Refiner (RGG v9 s.2.3 enhanced due diligence for high-risk recycled gold); Site visit at the mine of origin before transacting (or within 6 months) - enhanced due diligence
    法律原文

    [inferred] Asking for DMCC/UAEGD audit reports and a chain-of-custody statement is the model's application to a Dubai supplier; the LBMA Responsible Gold Guidance and the BAZG melter due-diligence directive do not name them. The EMKV duties are read in the official fedlex consolidation held on the server. In the EMKV record on the server these articles are parsed into the section labelled Anhang (section id in the refs), not into their own sections; the quotes are from that section.

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 1 (parsed into section sch-2)

      “Der Inhaber einer Schmelzbewilligung darf Schmelzgut nur von Per-”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 1 (lawful acquisition) (parsed into section sch-2)

      “die sich über deren rechtmässigen Erwerb aus- weisen können.”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 2 (identity) (parsed into section sch-2)

      “Es muss die Identität des Kunden anhand eines beweiskräftigen Do- kumentes wie Pass oder Identitätskarte überprüfen.”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 3 (origin clarification) (parsed into section sch-2)

      “Bestehen über die Herkunft der Ware Zweifel oder stammen die An- gebote von Unbekannten, so ist der Inhaber der Schmelzbewilligung verpflichtet, die Herkunft des Schmelzgutes besonders sorgfältig abzu- klären.”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 3 (retention) (parsed into section sch-2)

      “Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKG Art. 31a Abs. 1

      “Wer gewerbsmässig Schmelzgut im Sinne von Artikel 1 Absatz 3”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKG Art. 31a Abs. 6

      “Die Absätze 1-5 gelten nicht für Inhaber einer Schmelzbewilligung nach Artikel 24.”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), BAZG Richtlinie R-247 (1 Jan 2023) annex matrix Teil 1 (KYC)

      “Identifikation des Kunden gemäss Art. 168a Abs. 2 EMKV für natürliche Personen, für juristische Personen mittels Han-”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), BAZG Richtlinie R-247 (1 Jan 2023) Ziff. 3.3.2

      “Bestehen Zweifel über die Herkunft des Materials oder in Bezug auf die Integrität des Kunden sind Bewilligungsinhaber verpflichtet, den Sachverhalt besonders sorgfältig abzuklären”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), RGG v9 Step 2.1 (origin of mined gold)

      “Mined Gold: The location of the mine (LSM and ASM).”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), RGG v9 Step 2.2 (transit red flag)

      “Is claimed to originate from a country through which gold from CAHRAs is known, or reasonably suspected, to transit”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), RGG v9 Step 1.2 (records)

      “Records are required to be maintained for at least five years, or the minimum timeframe stipulated by local regulatory requirements”

    • PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), BAZG Schmelzen und Prüfen (Dec 2023) Ziff. 4.1.6 (restates Art. 168b Abs. 3)

      “Die Dokumente über den Geschäftsverkehr mit Schmelzgut und Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

  2. 10

    File the Swiss electronic customs import declaration (formal declaration; simplified or oral declarations excluded for melt material imported for sale), tariff heading 7108.1200 (statistical key 911 for mining gold), with actual origin if known; import VAT-exempt for investment gold (cast bars of at least 995 thousandths fineness bearing the fineness and the stamp of a recognised assayer-melter) and for gold in raw form or semi-finished for refining; unmarked doré may only be imported by a trade assayer (BAZG practice)

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    所需
    Air waybill
    出具
    Electronic customs import declaration (commercial import; simplified and oral declarations excluded for melt material)
    法律原文

    The Federal Council report (citing the customs administration) says actual origin must be declared if known, but for large imports, e.g. from the United Kingdom or the UAE, the dispatch country is sometimes entered; [inferred] Dubai-refined Nigerian gold can therefore appear as UAE origin. [unconfirmed] That no certificate of origin is required is not stated in the sources read. No written precious-metals control record found for a passed border check. The rule that unmarked doré may only be imported by a trade assayer is BAZG practice (BAZG letter on unmarked melt products; BAZG directive on applying the EMKG); it is not in the EMKG import article. The EMKV (precious metals control ordinance) is not held on the server, so its provisions on recognised fineness marks and banking precious metals are not relied on here. Corrected earlier: the declaration was described as "Passar"; the BAZG melt-material sheet names e-dec web. [time-limited] When the BAZG-VG enters into force (date not set), the EMKG import-check paragraphs are repealed and replaced by a new BAZG control article (BAZG-VG annex amending the EMKG).

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), MWSTG (SR 641.20, Stand 1 Jan 2025) Art. 23 Abs. 2 Ziff. 12: gold supplies exempt

      “die Umsätze, die mit Gold und Legierungen von Gold der folgenden Form erzielt werden:”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Art. 23 Abs. 2 Ziff. 12 Bst. b: investment gold, cast bars

      “Gold zu Anlagezwecken mit einem Mindestfeingehalt von 995 Tausendsteln, in Form von:”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Art. 23 Abs. 2 Ziff. 12 Bst. b, first indent

      “gegossenen Barren, versehen mit der Angabe des Feingehalts und dem Stempelzeichen eines anerkannten Prüfer-Schmelzers oder”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Art. 23 Abs. 2 Ziff. 12 Bst. d: raw or semi-finished gold for refining

      “Gold in Rohform oder in Form von Halbzeug, das zur Raffination oder Rückgewinnung bestimmt ist”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), MWSTG Art. 53 Abs. 1 Bst. m: import of gold exempt

      “Gold und Legierungen von Gold nach Artikel 23 Absatz 2 Ziffer 12.”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), AS 2024 438 (amendment of 16 June 2023, in force 1 Jan 2025): inserts Art. 53 Abs. 1 Bst. m

      “Gold und Legierungen von Gold nach Artikel 23 Absatz 2 Ziffer 12.”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), MWSTV Art. 44 (former gold provision) repealed

      “Aufgehoben durch Ziff. I der V vom 21. Aug. 2024, mit Wirkung seit 1. Jan. 2025”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), EMKG (SR 941.31) Art. 20 Abs. 3: import checks

      “Die diesem Gesetz unterstellten Waren können bei der Einfuhr einer umfassenden oder stichprobenweisen Kontrolle unterworfen werden.”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG statistics page: tariff heading 7108.1200

      “Data relating to gold in raw form (e.g. bars) are recorded under customs tariff heading 7108.1200”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG statistics page: statistical key 911 (from 1 Jan 2021)

      “mining gold *(key: 911)*”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Federal Council report 14 Nov 2018, s.3.7

      “dass der tatsächliche Ursprung der Waren gemeldet werden muss, sofern er bekannt ist”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Federal Council report s.3.7

      “Bei umfangreichen Einfuhren, zum Beispiel aus Grossbritannien oder den Vereinigten Arabischen Emiraten, wird in der Zollerklärung gelegentlich das Versendungsland angegeben.”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG R-247 (1 Jan 2023) s.3.4.2: unmarked melt products only imported by trade assayers

      “Daher sind ausschliesslich Handelsprüfer berechtigt, nicht gekennzeichnete”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), R-247 s.3.4.2 (doré bars as example)

      “(bspw. Doré-Barren aus dem Bergbau)”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG Merkblatt "Annahme von Schmelzgut aus dem Ausland" (Jan 2024): simplified declarations excluded

      “Vereinfachte Zollanmeldeverfahren wie Quickzoll oder gar eine mündliche Zollanmeldung sind daher grundsätzlich ausgeschlossen.”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: e-dec web

      “dies selbst mittels e-dec web vornehmen”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: prior customs procedure

      “Annahme von Schmelzgut aus dem Ausland sichergestellt wird, dass dieses vorgängig”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: fine per case (under the EMKG)

      “mit bis zu CHF 2 000 pro Fall gebüsst werden”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: licence withdrawal

      “In schweren Fällen kann die entsprechende Bewilligung”

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG letter of 4 Dec 2019 on import of unmarked melt products (only footnotes are sectioned; cited law-only)

    • VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG-VG of 20 June 2025, Anhang 2 Ziff. 53 (EMKG Art. 20 Abs. 3-5 repealed, new Art. 22a); annex not sectioned, cited law-only

  3. 11

    Weigh-in, seal-check, drill/dip-sample, fire-assay (ASTM E1335/ISO 11426) the incoming 995 bar

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    所需
    Refining/re-refining agreement, Swiss refiner; Refiner file on the Dubai supplier: identity, commercial-register extract, proof of lawful acquisition (export permit/declaration, mining licence where applicable), SECO embargo check, origin clarification (kept for the period the EMKV sets: zehn Jahren)
    出具
    Refiner outturn/assay report (Switzerland); Purchase book: customer, ID proof, acceptance date, description and marking, weight on acceptance, weight after melting, completion
    标准

    [unconfirmed] Weigh-in, seal check and ISO 11426 are not in the sources read; ASTM E1335-24 covers fire assay of bullion, and Valcambi describes fire assay of drillings from samples taken from the melt of the received material.

    • Fire assay standard practice

  4. 12

    Pay the Dubai counterparty for the imported bar once the Swiss refiner's own assay confirms fine content

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    所需
    Refiner outturn/assay report (Switzerland)
    出具
    Final invoice from the Dubai seller (against Swiss outturn assay); Settlement wire, Swiss refiner -> Dubai counterparty
    二手资料

    • Refining/sale contract; SWIFT MT103

  5. 13

    Wohlwill electrolytic re-refine to 999.9, or cast directly to LBMA Good Delivery 400oz spec (995 min) if already qualifying

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    所需
    Refiner outturn/assay report (Switzerland)
    形态
    Pre-refined 995 bar (e.g. 'Dubai 995') → LBMA Good Delivery 400oz bar
    标准

    [unconfirmed] Wohlwill electrolytic refining to 999.9 is industry practice not described in the Good Delivery Rules, which set only the bar specification (350-430 fine troy ounces, minimum fineness 995.0).

    • LBMA Good Delivery Rules (bar spec, marking)

  6. 14

    Stamp each bar with the melting-licence holder's stamp (Stempelzeichen); bars for resale are assayed by a control office or sworn trade assayer and marked with fineness and the assayer's mark; for LBMA Good Delivery bars also serial number, fineness to four figures and year

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    出具
    Bar list (serials, weights, fineness)
    法律原文

    Serial number and year are LBMA requirements, not Swiss law. The earlier wording "registered responsibility mark" was wrong for bars (that mark, EMKG Art. 9, applies to finished wares). EMKV marking articles (Arts. 169, 173) were read only as restated by the BAZG (Vorschriften Dec 2023, held); the EMKV text is not yet held.

    • PMCA (EMKG, SR 941.31); BAZG R-247; LBMA Good Delivery Rules, EMKG Art. 31(1); R-247 s.3.4.1; LBMA GD Rules s.2.1.7

  7. 15

    File annual LBMA RGG independent assurance report; and (if volume threshold met) CO 964j-l conflict-minerals public report

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    出具
    LBMA Responsible Gold Guidance annual assurance report; CO 964j-l conflict-minerals due-diligence public report
    标准

    [time-limited] RGG v9 applies until RGG v10 takes effect: implementation 1 Jan-31 Dec 2027, first v10 audits for the reporting year ending 31 Dec 2027 (consultation closed 10 Jul 2026).

    • LBMA RGG v9; CO Art. 964j-964l

  8. 16

    Optionally store under customs control in a free port (e.g. Geneva La Praille / Aéroport, Embrach - Embraport, Zürich-Flughafen - Cargologic): stored goods are not subject to import customs duties or trade-policy measures and may be stored indefinitely

    执行方
    Bonded warehouse / freeport operator (Geneva/Embrach)
    出具
    Electronic customs declaration on entry of sensitive goods into the free port (content: the inventory-record particulars listed in the Customs Ordinance, letters a to f, plus the depositor's name and address); Electronic inventory record of sensitive goods: previous customs document, entry date, owner, origin country, description, value, marks, gross/net mass, origin proof, location, exit date, etc. (17 fields)
    法律原文

    The BAZG free-port list held is the old list in the library (its record dates it to the start of the year it was issued; no newer list found); operators may have changed. [time-limited] The BAZG-VG (adopted, not yet in force) treats free ports as a kind of customs warehouse and will replace these articles when in force. [inferred] Suspension of import VAT is read from the BAZG free-port directive ("auf das Erheben der Abgaben ... verzichtet"); the ZG names only import customs duties and trade-policy measures. Supplies of goods stored in a free port are VAT-exempt under the MWSTG (read). The ZG and ZV are now read in their official fedlex consolidations held on the server.

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG (SR 631.0, Stand 1 Sep 2023) Art. 62 Abs. 1

      “Zollfreilager sind Teile des Zollgebiets oder in diesem gelegene Räumlichkeiten:”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 62 Abs. 3

      “Die eingelagerten Waren unterliegen weder den Einfuhrzollabgaben noch handels- politischen Massnahmen.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 64 Abs. 1

      “Wer ein Zollfreilager betreibt, braucht eine Bewilligung des BAZG.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 65 Abs. 1

      “Waren, die in einem Zollfreilager gelagert werden sollen, sind der zuständigen Zoll- stelle zur Einlagerung anzumelden und in das Zollfreilager zu verbringen.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 65 Abs. 2

      “In Zollfreilagern dürfen Waren beliebig lange gelagert werden.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 66 Abs. 1

      “Die Lagerhalterin oder der Lagerhalter muss über alle eingelagerten sensiblen Wa- ren Bestandesaufzeichnungen führen.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV (SR 631.01, Stand 1 Oct 2024) Art. 178a Abs. 1

      “Die anmeldepflichtige Person muss sensible Waren bei der Einlagerung ins Zollfrei- lager elektronisch anmelden.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV Art. 182 Abs. 2

      “Sie oder er muss zudem für sensible Waren eine Bestandesaufzeichnung führen.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV Art. 184 Abs. 2

      “Sie muss elektronisch geführt werden.”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV Anhang 2 Ziff. 5 (sensitive goods; the section id carries footnote 193 glued to the label)

      “Perlen, Diamanten, Edelsteine, Schmucksteine, Edelmetalle und Edel- metallplattierungen sowie Waren daraus (ex Zolltarifkapitel 71)”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), BAZG Richtlinie R-10-50 Ziff. 1.1 (levies not raised)

      “Dabei wird auf das Erheben der Abgaben, auf deren Sicherstellung und auf die Anwendung handelspolitischer Massnahmen”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), MWSTG Art. 23 Abs. 2 Ziff. 3bis

      “die Lieferung von Gegenständen, die wegen Einlagerung in einem Zollfreilager (Art. 62-66 ZG) nachweislich im Inland unter Zollüberwachung standen und diesen Zollstatus nicht rückwirkend verloren haben”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), Embrach

      “Zürcher Freilager AG, GVZ Embraport”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), Genève La Praille and Genève Aéroport

      “Ports Francs et Entrepôts de Genève SA”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), BAZG-VG (20 June 2025, not in force) Art. 64

      “Zolllager sind vom BAZG zugelassene Orte im Zollgebiet”

    • Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), BAZG-VG Art. 65 Abs. 2

      “Als Zolllager können bewilligt werden:”

  9. 17

    Screen the bars, buyer and destination against Swiss sanctions before release: no purchase, import, transit or related services (including brokerage and financing) for gold of Russian origin exported after 4 Aug 2022 or gold processed from it in third countries

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    法律原文

    [transcription] Art. 14d paras 1-4 read in an unofficial third-party English translation (as at 22 Mar 2024, held in laws/); Annex 26 covers 7108, 7112 91 and ex 7118 90 gold coins; Annex 27 ex 7113 and ex 7114. [unconfirmed] The official consolidation is now Stand 21 Sep 2026 and was not read (the fetch tool truncates before Art. 14d); changes after March 2024 are not ruled out. The ordinance contains no explicit ban on selling gold to Russia; the export-side effect is through the services ban.

    • Ordinance of 4 March 2022 on measures in connection with the situation in Ukraine (SR 946.231.176.72), Art. 14d

  10. 18

    Release the bars from the refinery vault or free port against the owner's instruction and prepare the weight list (bar list), commercial invoice and packing list for the shipment

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    出具
    Outbound weight list / bar list; Commercial invoice to the foreign buyer; Packing list
    标准

    The weight list is sourced to LBMA Annex C; commercial invoice and packing list are standard export practice, not read in a Swiss source.

    • LBMA Good Delivery Rules, Annex C (weight lists); Customs Act Arts. 62-66 (free ports)

  11. 19

    Lodge the electronic export declaration in Passar (HS 7108; e-dec Export was usable only to end-2025); the declarant must make it binding and physically export the goods within 120 days of its acceptance in the IT system

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    出具
    Passar export declaration (HS 7108)
    官方指引

    R-10-10 (valid 1 Jan 2026) cites Art. 25-29 ZG and Art. 79-83 ZV for the declaration duty, says declarations are electronic in principle, and sets the 120-day limit from acceptance in the IT system. R-10-10 held and read in full on 2026-09-28; the Customs Act and Ordinance texts themselves were not read. R-10-10 has no gold-specific rule.

    • Customs Act (ZG, SR 631.0); BAZG R-10-10, ZG Arts. 25-29 (as cited in R-10-10)

  12. 20

    Receive the export assessment notice (Veranlagungsverfuegung Ausfuhr), the evidence that the goods were properly cleared for export

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    出具
    Veranlagungsverfuegung Ausfuhr
    官方指引

    R-10-10 cites Art. 38 and 69 ZG and Art. 92 ZV for the export assessment notice and says it is evidence of proper assessment and of export for VAT. R-10-10 held and read in full on 2026-09-28.

    • Customs Act (ZG); BAZG R-10-10, ZG Arts. 38 and 69; ZV Art. 92 (as cited in R-10-10)

  13. 21

    Treat the sale as a VAT-exempt export (supply of goods directly transported abroad) and keep the export assessment notice as evidence

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    所需
    Veranlagungsverfuegung Ausfuhr
    法律原文

    Art. 23(2) no. 1 read in the held MWSTG (Stand 1 Jan 2025, German wording current). Art. 23(3): direct export includes export into an open customs warehouse or a free port. Investment gold of at least 995 fineness is separately exempt with credit under Art. 23(2) no. 12 (see ch.tax-import-vat).

    • Federal VAT Act (MWSTG, SR 641.20), Art. 23(2) no. 1

  14. 22

    Hand the sealed consignment to a secure valuables carrier and fly it out (Zurich or Geneva) under an air waybill

    执行方
    Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)
    出具
    Air waybill (outbound)
    未经核实

    Carrier practice. Cantonal licensing: in the Canton of Zurich "Sicherheitstransporte von Personen, Gütern und Wertsachen" require a licence under the Polizeigesetz, 9. Abschnitt (cantonal page, read by WebFetch 2026-09-28; PolG text not read). Geneva and other cantons not checked. No Swiss source read describes the outbound air leg for gold.

税费

  • Customs duty on gold

    0% HS 7108

    官方指引金额未确认

  • Import VAT on gold

    Exempt Gold and gold alloys under MWSTG Art. 23(2) Ziff. 12: (a) state-minted gold coins of tariff nos. 7118.9010, 9705.3100, 9705.3900; (b) investment gold of at least 995 fineness as cast bars bearing the fineness and the stamp of a recognised assayer-melter, or stamped plates; (c) granules of at least 995 packed and sealed by a recognised assayer-melter; (d) gold in raw form or semi-finished for refining or recovery, and gold waste and scrap; (e) alloys under (d) with 2% or more gold

    法律原文金额未确认

    • VAT Act (MWSTG, SR 641.20), Art. 53(1)(m) (import) with Art. 23(2) Ziff. 12

管制

  • Banks identify the contracting party and beneficial owner for precious-metals trading and for cash transactions over CHF 15,000 (CDB 20; Form A, Form K).

    CHF 15,000 cash

    标准金额未确认

    • CDB 20 (SBA), CDB Art. 4(2)(f)-(g), 7, 20-21, 27-28

  • Melt material imported from abroad for sale in Switzerland needs a formal import declaration; simplified and oral declarations are excluded in principle. A buyer or licensee who accepts melt material that has not been through customs breaches due diligence under the PMCA: fine up to CHF 2,000 per ca…

    官方指引

    • BAZG Merkblatt 'Annahme von Schmelzgut aus dem Ausland' (Jan 2024)

  • Commercial production of melt products (bars, plates, rods, granules made by melting precious metal or melt material) requires a melt licence; acting without it is punishable by a fine (EMKG Art. 48). Every melt product must bear the licence holder's stamp; melt products for resale must be assayed b…

    法律原文

    • EMKG/PMCA (SR 941.31), Arts. 1(2), 24, 31(1), 32-33, 47, 48

  • Holders of a melter licence may accept melt material only from persons who can prove lawful acquisition, and must verify the customer's identity by a probative document such as a passport or identity card. Where origin is doubtful or the offer comes from unknown persons, origin must be clarified wit…

    法律原文

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 1 (parsed into section sch-2)

      “Der Inhaber einer Schmelzbewilligung darf Schmelzgut nur von Per-”

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 2 (parsed into section sch-2)

      “Es muss die Identität des Kunden anhand eines beweiskräftigen Do- kumentes wie Pass oder Identitätskarte überprüfen.”

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 3 (parsed into section sch-2)

      “Bestehen über die Herkunft der Ware Zweifel oder stammen die An- gebote von Unbekannten, so ist der Inhaber der Schmelzbewilligung verpflichtet, die Herkunft des Schmelzgutes besonders sorgfältig abzu- klären.”

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 1 (parsed into section sch-2)

      “derlichen organisatorischen Massnahmen, um das Schmelzen von Schmelzgut unrechtmässiger Herkunft zu verhindern.”

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 2 (parsed into section sch-2)

      “so ist die Ware durch den Inhaber der Schmelzbewilligung bis zur Klärung des Falles in unverändertem Zu- stand aufzubewahren.”

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 3 (parsed into section sch-2)

      “Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168c Abs. 1 (parsed into section sch-2)

      “Der Inhaber einer Schmelzbewilligung muss über seine Ankäufe von Schmelzgut und Schmelzprodukten Buch führen.”

    • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168c Abs. 2 Bst. b (parsed into section sch-2)

      “die in Artikel 168a Absatz 2 vorgeschriebenen Identifikations- nachweise;”

    • PMCO/EMKV (articles in refs), BAZG Schmelzen und Prüfen (Dec 2023) Ziff. 4.1.6 (restates Art. 168a)

      “Er muss die Identität des Kunden anhand eines beweiskräftigen Dokumentes wie Pass oder Identitätskarte überprüfen und muss sich vor Ausführung des Auftrages den rechtmässigen Erwerb des Schmelzgutes durch den Auftraggeber nachweisen lassen.”

    • PMCO/EMKV (articles in refs), BAZG Schmelzen und Prüfen (Dec 2023) Ziff. 4.1.6 (restates Art. 168b Abs. 3)

      “Die Dokumente über den Geschäftsverkehr mit Schmelzgut und Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

    • PMCO/EMKV (articles in refs), BAZG Richtlinie R-247 (1 Jan 2023) Ziff. 3.3.2

      “Bestehen Zweifel über die Herkunft des Materials oder in Bezug auf die Integrität des Kunden sind Bewilligungsinhaber verpflichtet, den Sachverhalt besonders sorgfältig abzuklären”

  • Purchase, import, transit and transport of gold (Annex 26) originating in Russia and exported from Russia after 4 Aug 2022, and of gold processed from it in third countries, are prohibited, as are related services (all kinds, including financial services, brokerage and technical assistance) and the …

    法律原文

    • Ordinance of 4 March 2022 on measures in connection with the situation in Ukraine (SR 946.231.176.72), Art. 14d

  • Precious metals are 'sensitive goods' in free ports (Customs Ordinance Annex 2, as amended on 18 November 2015): the declarant must declare them electronically on entry into storage, and an electronic inventory record of them is kept per depositor and submitted by the warehouse keeper to customs on …

    法律原文

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), AS 2015 4917, ZV Anhang 2 (sensitive goods) as amended

      “Anhang 2 wird wie folgt geändert:”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Anhang 2 Ziff. 5: precious metals ex tariff chapter 71

      “Perlen, Diamanten, Edelsteine, Schmucksteine, Edelmetalle und Edel- metallplattierungen sowie Waren daraus (ex Zolltarifkapitel 71)”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), AS 2015 4917 Ziff. IV: in force

      “Diese Verordnung tritt am 1. Januar 2016 in Kraft.”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 178a Abs. 1: electronic declaration on entry into the free port

      “Die anmeldepflichtige Person muss sensible Waren bei der Einlagerung ins Zoll- freilager elektronisch anmelden.”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 185: inventory record per depositor

      “Die Bestandesaufzeichnung für sensible Waren ist je Einlagererin oder je Einlagerer zu führen.”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 184 Abs. 2: kept electronically

      “Sie muss elektronisch geführt werden.”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 184 Abs. 3bis: warehouse keeper submits it on request

      “Auf Verlangen muss die Lagerhalterin oder der Lagerhalter der EZV die”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), AS 2015 4917, ZV Art. 246a: amendment date

      “Übergangsbestimmungen zur Änderung vom 18. November 2015”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), BAZG R-10-50 (1 Jul 2025) s.1.3.1: export goods count as sensitive goods

      “Ausfuhrwaren gelten als sensible Waren”

    • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), R-10-50 s.4.1: inventory records over all sensitive goods

      “Bestandesaufzeichnungen nach den Grundsätzen der ordnungsgemässen Buchführung”

  • Cash threshold for dealers in goods (anti-money laundering)

    法律原文

    • GwG Art. 8a(1)

      “Händlerinnen und Händler nach Artikel 2 Absatz 1 Buchstabe b müssen folgende”

    • GwG Art. 8a(1)(a)

      “Identifizierung der Vertragspartei (Art. 3 Abs. 1);”

  • Cash threshold for dealers in gold (anti-money laundering)

    法律原文

    • GwG Art. 8a(1)

      “Händlerinnen und Händler nach Artikel 2 Absatz 1 Buchstabe b müssen folgende”

    • GwG Art. 8a(1)(a)

      “Identifizierung der Vertragspartei (Art. 3 Abs. 1);”

    • GwG Art. 8a(2bis)

      “oder Edelsteinen beträgt die massgebende Schwelle im Sinne von Ab-”

    • EMKG Art. 1(1)

      “Edelmetalle im Sinne dieses Gesetzes sind Gold, Silber, Platin und Palladium.”

第 3 段：英国

货物终点

  1. 23

    Apply customer due diligence to the foreign seller before buying (identity, beneficial owner, purpose, risk assessment, sanctions/PEP screening)

    执行方
    Bullion dealer / trader (importer of record, usually an LBMA member)
    出具
    Supplier KYC pack received by the UK buyer; MLR customer due diligence file
    法律原文

    [unconfirmed] Whether a non-bank wholesale bullion trader paid by wire is within the MLR at all (e.g. as a financial institution under reg 10) - consolidated MLR not held. [not-read] Reg 27 quoted via WebFetch; MLR not held.

    • Money Laundering Regulations 2017, reg 27

  2. 24

    Establish that the gold is not Russian-origin gold exported from Russia on or after 21 Jul 2022, not relevant processed gold incorporating such gold, and not Russian gold jewellery exported on or after 29 Oct 2022; check where the goods were originally consigned or exported from; if Russian origin is possible, apply to DBT's Import Sanctions Team for a licence or contact it; declare document code 9022 (not subject to / exempt from sanctions) or 9011 (licence) on CDS and keep the evidence to produce on demand

    执行方
    Bullion dealer / trader (importer of record, usually an LBMA member)
    所需
    Export customs declaration accepted by the dispatching country's customs
    出具
    Importer's Russia-sanctions origin evidence file
    法律原文

    [inferred] The guidance and tariff do not list specific evidence documents; the required kinds are this module's inference.

    • Russia (Sanctions) (EU Exit) Regulations 2019 as amended by SI 2022/850 and SI 2022/1110, regs 46Z11, 46Z16B, 46Z16C

  3. 25

    Fly the bars into the UK as valuable cargo (typically Heathrow) under an air waybill

    执行方
    Secure valuables carrier
    出具
    Air waybill, inbound valuables consignment
    未经核实

    UK valuables-cargo handling not researched in this pass.

  4. 26

    Submit a full import declaration on CDS (procedure code, commodity code 7108 12 00 00 for unwrought gold, DUCR, consignor/consignee, value, licences; EORI); declare sanctions document code 9022 or 9011; claim the investment-gold VAT exemption with additional code VATE where the bars are 995+ of a weight accepted by the bullion markets

    执行方
    Customs agent / declarant using CDS software
    所需
    EORI number of importer/exporter; Importer's Russia-sanctions origin evidence file; Air waybill, inbound valuables consignment; Air waybill; Commercial invoice; Bar list (serials, weights, fineness)
    出具
    CDS full import declaration
    官方指引

    [conflict] gb.div-cpc-chief - VAT Notice 701/21 s.8.1 still gives CHIEF CPC 40 00 073; the tariff (28 Sep 2026) shows the exemption as additional code VATE. [not-read] The CDS procedure code and DE 1/10-1/11 entries for investment gold not read (UK Trade Tariff Vol. 3 listed in gb-fetch.tsv).

  5. 27

    Account for import VAT: exempt for investment gold (additional code VATE); 20% standard rate (code 03020) on non-investment gold (dore, grain, scrap, sub-995 bars, non-qualifying coins); customs duty 0.00% (third-country rate on 7108 12, S.I. 2020/1430)

    执行方
    Bullion dealer / trader (importer of record, usually an LBMA member)
    所需
    CDS full import declaration
    官方指引

    • VAT Act 1994 Sch 9 Group 15; VAT Notice 701/21, Notice s8.1, s10.7

  6. 28

    Clear the goods (CDS message when cleared), or ask for supporting documents for a customs check; for 7108 the Russia/Belarus measures read "Import allowed after control"; HMRC enforces trade sanctions at the border

    执行方
    HMRC (customs and VAT authority)
    所需
    CDS full import declaration
    出具
    CDS clearance notification (goods released)
    官方指引
  7. 29

    Give the custodian written notice of the deposit (amount, Availability Date, and the carrier and packing for physical delivery, or the source account for book-entry); advise the vault manager of the vehicle registration and driver's identity

    执行方
    Bullion dealer / trader (importer of record, usually an LBMA member)
    所需
    CDS clearance notification (goods released)
    出具
    Deposit notice to London custodian
    标准

    • LPMCL Allocated Account Agreement; LBMA Good Delivery Rules, Allocated cl. 3.3 (Unallocated cl. 3.2); GD Rules Annex B s.2

  8. 30

    Weigh the bars under the London weighing procedures (the receiving party may charge for weighing if not weighed by an Approved Weigher) and produce the machine-readable, dated weight list stating whether an Approved Weigher weighed the metal; a copy travels with the bars

    执行方
    LBMA Approved Weigher
    出具
    Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)
    标准

    • LBMA Good Delivery Rules, Annex B

  9. 31

    Receive bars on pallets; before crediting, verify compliance with the Rules and weigh them per LBMA practice against the notified amount; the vault manager may refuse bars not meeting Good Delivery standards and may ask LBMA to appoint independent inspectors

    执行方
    London commercial vault / custodian (typically a clearing or custodian bank)
    所需
    Deposit notice to London custodian; Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)
    标准

    • LPMCL Allocated/Unallocated Account Agreements; LBMA Good Delivery Rules, Allocated cl. 3.1(b), 3.4, 3.5; Unallocated cl. 3.1(b), 3.3, 3.4; GD Rules 2.4 and Annex B

  10. 32

    For bars of the six suspended Russian refiners: accept only bars produced while the refiner was listed and already in the loco London/Swiss markets before 7 Mar 2022; clearing banks attest conformity

    执行方
    London commercial vault / custodian (typically a clearing or custodian bank)
    所需
    Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)
    标准

    Separately, UK law bans import of Russian gold exported from Russia on or after 21 Jul 2022. [unconfirmed] GD Rules 2026 s.1.4 says bars of a refiner moved to the Former List for sanctions reasons may lose Good Delivery status; LBMA's specific Russian-bars page keeps pre-7 Mar 2022 loco London/Swiss stocks as Good Delivery - the model follows the specific page.

    • LBMA Good Delivery List suspension notice (7 Mar 2022)

  11. 33

    Credit the client: an allocated account (specific bars, title stays with client, weight list issued) or an unallocated account (a metal debt claim on the custodian); statements at least annually

    执行方
    London commercial vault / custodian (typically a clearing or custodian bank)
    所需
    Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)
    出具
    Allocated weight list (bar number, gross weight, fineness, fine weight, brand) or unallocated balance statement
    标准

    • LPMCL Account Agreements, Allocated cl. 2.3, 7.3 and Schedule (bar numbers, purity, gross and fine weight, brand); Unallocated cl. 1.1, 2.3, 3.3

  12. 34

    Central-bank channel: hold Good Delivery bars in an allocated account at the Bank of England (off the Bank's balance sheet)

    执行方
    Bank of England (gold custodian)
    形态
    LBMA Good Delivery 400oz bar → Monetary gold (central bank reserve)
    官方指引

    Monetary state applies when held as reserves by a monetary authority.

  13. 35

    Report month-end holdings to LBMA (London vault data) and, from Dec 2026, aggregated vault data into the Gold Bar Integrity database (bar-level reporting planned from 2027)

    执行方
    London commercial vault / custodian (typically a clearing or custodian bank)
    出具
    Custodian holdings return to LBMA (London vault data / GBI)
    标准
  14. 36

    Onboard the counterparty: MLR customer due diligence and sanctions representations in the account agreement

    执行方
    LPMCL clearing member bank
    出具
    MLR customer due diligence file
    法律原文

    [not-read] MLR reg 27 quoted via WebFetch; MLR not held.

    • MLR 2017; LPMCL account agreements, MLR reg 27; LPMCL Allocated cl. 10 / Unallocated cl. 8

  15. 37

    Agree the OTC trade (spot/forward) under the 1994 International Bullion Master Agreement (IBMA) or an ISDA Master Agreement with the 1997 ISDA Bullion Definitions; LBMA Members must comply with the Global Precious Metals Code

    执行方
    Bullion dealer / trader (importer of record, usually an LBMA member)
    所需
    MLR customer due diligence file
    出具
    OTC bullion trade confirmation (IBMA 1994 / ISDA Bullion Definitions 1997)
    标准
  16. 38

    Apply the VAT treatment: investment gold between LBMA members is zero-rated (TMO); gold held in the UK between central banks, or between a central bank and an LBM member, is zero-rated (VATA Sch 8 Group 10); investment gold between an LBMA member and a taxable non-member is standard-rated under the special accounting scheme (the buyer accounts for the VAT); to private individuals it is exempt; other investment gold is exempt unless the supplier has opted to tax; standard-rated gold (fine gold, grain, scrap, opted investment gold) between VAT-registered traders goes under the compulsory special accounting scheme

    执行方
    Bullion dealer / trader (importer of record, usually an LBMA member)
    所需
    OTC bullion trade confirmation (IBMA 1994 / ISDA Bullion Definitions 1997)
    官方指引

    [conflict] gb.div-tmo-member-category. [not-read] TMO arts 3-7 and VATA s.55 not held; the member/non-member rule is from VGOLD1600 ("Supplies of investment gold between members and non-members who are taxable persons are now standard-rated") and Notice 701/21 ss. 11.2, 11.5.

    • VAT (Terminal Markets) Order 1973; VATA 1994 s.55, Sch 8 Group 10, Sch 9 Group 15

  17. 39

    Settle loco London: book transfer between unallocated accounts through LPMCL members (client instructions by 16:00, inter-member by 16:30 London), or transfer of specific allocated bars

    执行方
    LPMCL clearing member bank
    所需
    OTC bullion trade confirmation (IBMA 1994 / ISDA Bullion Definitions 1997); Allocated weight list (bar number, gross weight, fineness, fine weight, brand) or unallocated balance statement
    出具
    Loco London settlement: transfer between unallocated accounts via LPMCL members, or allocated bar transfer
    标准

    Cut-offs (client instructions until 4.00pm, LPMCL members until 4.30pm London time) confirmed in the held 2017 OTC Guide; the current web section not held.

  18. 40

    Pay the cash leg against metal settlement

    执行方
    LPMCL clearing member bank
    所需
    Loco London settlement: transfer between unallocated accounts via LPMCL members, or allocated bar transfer
    出具
    Cash-leg payment for the metal
    未经核实

    Cash-leg timing and DvP arrangements not documented in the sources read.

  19. 41

    For exempt investment gold: issue an invoice with a unique number and the prescribed details for each sale over GBP 5,000 (or smaller sales once a customer passes GBP 10,000 in 12 months); keep the accounting and customer records (identity from one List 1 and one List 2 document) for at least 6 years; notify HMRC in writing within 28 days of the first exempt supply over GBP 5,000 or when supplies to one customer exceed GBP 10,000 in 12 months; failures attract a penalty normally of 17.5% of the transactions' value

    执行方
    Bullion dealer / trader (importer of record, usually an LBMA member)
    所需
    Loco London settlement: transfer between unallocated accounts via LPMCL members, or allocated bar transfer
    出具
    Investment gold invoice (VAT tertiary legislation s.3 / VAT Regs reg 31A); Investment gold customer records and identity evidence; Notification to HMRC of exempt investment gold dealing (within 28 days)
    法律原文

    Tertiary legislation (force of law, held). [unconfirmed] The general 6-year retention and the 17.5% penalty are in Notice 701/21 ss. 7.7 and 9.4, outside the passages marked as having force of law.

    • VAT Regulations 1995; VAT tertiary legislation (gold), reg 31A

  20. 42

    Keep MLR records 5 years; nominated officer files a suspicious activity report where there is suspicion

    执行方
    LPMCL clearing member bank
    所需
    MLR customer due diligence file
    出具
    Suspicious activity report to the National Crime Agency
    官方指引

    MLR record-keeping regulation not held; 5 years from the end of the relationship or completion of the transaction per HMRC guidance.

税费

  • Customs duty on gold (UK Global Tariff)

    0.00% (third-country duty on 7108 12 00 00; preferential rates also 0.00%) HS 7108 12 00 00 non-monetary gold, other unwrought forms (read); 7108 13 and 7112 91 not held

    官方指引金额未确认

    • Customs Tariff (Establishment) (EU Exit) Regulations 2020 (S.I. 2020/1430), as shown on the tariff

  • Import VAT on investment gold

    Exempt Bars/wafers 995+ of a weight accepted by the bullion markets; qualifying coins

    官方指引金额未确认

    • VAT Act 1994 Sch 9 Group 15; VAT Notice 701/21 s.8.1; UK tariff additional code VATE

  • Import VAT on non-investment gold

    20% (standard rate; tariff code 03020) Doré, grain, scrap, bars below 995, non-qualifying coins

    官方指引金额未确认

    • VAT Notice 701/21, s10.7

  • VAT exemption for supplies of investment gold (with option to tax)

    Exempt Supplies of investment gold (incl. rights to it, unallocated gold, loans, swaps, forwards and futures; not options) and agents' services for them; not between an LBMA member and a taxable non-member (standard-rated, SAS)

    官方指引金额未确认

    • VAT Act 1994 Sch 9 Group 15; VAT (Investment Gold) Order 1999

  • Special accounting scheme (reverse charge) for gold

    20%, accounted for by the buyer Standard-rated B2B supplies between VAT-registered (or liable) persons: fine gold, gold grain, gold coins (not margin-scheme), gold-containing goods priced at no more than a negligible amount above the gold value, investment gold on which the option to tax is exercised or supplied between an LBMA member and a non-member, and treatment/processing services producing such gold (Notice 701/21 s.11.2)

    官方指引金额未确认

    • VAT Act 1994 s.55 (named in VGOLD1700; statute not held)

  • Zero rate for London Bullion Market and central-bank gold transactions

    0% Investment gold (incl. futures and options) between taxable LBMA members (TMO; Notice 701/9 s.3.2.4); gold, rights to or part interests in gold held in the UK between central banks or between a central bank and an LBM member (VATA Sch 8 Group 10; Notice 701/21 s.10.4). Not zero-rated: investment gold between an LBMA member and a taxable non-member (standard-rated, special accounting scheme); a futures contract between a member and a non-member that leads to physical delivery (Notice 701/9 s.3.3.2).

    官方指引金额未确认

    • VAT (Terminal Markets) Order 1973 art. 2(2), (4) and arts 4-7; VATA 1994 s.50, Sch 8 Group 10

  • HMRC MLR registration and annual supervision fee

    Not read

    官方指引

管制

  • The UK tariff attaches to 7108 12 00 00 a "Restriction on entry into free circulation for Belarus" (from 30 Sep 2023; legal base SI 2023/616) and a "Restriction on export for Belarus" (legal base SI 2022/748): allowed with document code 9011 (DBT licence, GBSAN reference) or 9022 (not subject to / e…

    官方指引

    • Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 as amended

  • A trader accepting or making a cash payment of GBP 10,000 or more for goods (single or linked) is a high value dealer: must register with HMRC first and apply CDD. Threshold changed from EUR 10,000 to GBP 10,000 with effect from 30 Jun 2026.

    GBP 10,000 cash (EUR 10,000 before 30 Jun 2026)

    法律原文金额未确认

    • MLR 2017 as amended by SI 2026/621, regs 14, 27(3); SI 2026/621 reg 9

  • Regulated firms apply CDD on a business relationship, a transfer of funds over GBP 800, an occasional transaction of GBP 12,000+ (HVDs: cash GBP 10,000+), suspicion or doubt; EDD for PEPs, non-face-to-face and FATF call-for-action countries (reg 33 as amended 30 Jun 2026); keep records 5 years; nomi…

    Occasional transactions GBP 12,000 (general); GBP 10,000 cash (HVD); transfer of funds GBP 800 (from 30 Jun 2026; previously 15,000 / 10,000 / 1,000 euros)

    法律原文金额未确认

    • MLR 2017, reg 27

  • The import into the United Kingdom of gold originating from Russia is prohibited where it was exported from Russia on or after the relevant day. The ban goes by origin, so it applies whichever country the gold is shipped from.

    法律原文

    • The Russia (Sanctions) (EU Exit) (Amendment) (No. 14) Regulations 2022, inserting reg 46Z11 into SI 2019/855, reg 46Z11(1)

      “The import of gold originating from Russia is prohibited, where that gold has been exported from Russia on or after the relevant day.”

  • No Great Britain statute imposing CAHRA/OECD due diligence on gold importers was found. Responsible-sourcing duties in London come from the LBMA (RGG mandatory for Good Delivery refiners since 2012; annual audit; Incident Review Process) and the GBI country-of-origin reporting (monthly, mandatory fr…

    标准

    • LBMA Responsible Gold Guidance / Good Delivery Rules

  • UK persons may not provide financial services for foreign exchange reserve and asset management to the Central Bank of Russia, the National Wealth Fund or the Russian Ministry of Finance (or persons owned, controlled or acting for them); the reserves include bullion such as gold - "it is prohibited …

    官方指引

    • Russia (Sanctions) (EU Exit) Regulations 2019, reg 18A (as named in the statutory guidance)

  • Only Good Delivery bars settle loco London: 350-430 fine troy oz, minimum 995.0 fineness, marks = refiner stamp, assay mark, fineness, serial number (max 11 digits or characters), month and year of manufacture (MMYY, since Jan 2019); no laser engraving. Vault managers have complete discretion and an…

    标准

    • LBMA Good Delivery Rules 2026; LPMCL account agreements, GD Rules 2.1.5, 2.1.7, 2.4

  • The Hallmarking Act 1973 regulates describing articles as gold; Schedule 1 Part II exempts "Any raw material (including any bar, plate, sheet, foil, rod, wire, strip or tube) or bullion" (para 7) and coins that are or were current coin of the UK or any other territory (para 3). Bullion bars and lega…

    法律原文

    • Hallmarking Act 1973

  • Dealers in exempt investment gold must identify customers (one List 1 and one List 2 document), issue invoices with prescribed details, keep records at least 6 years and notify HMRC within 28 days when an exempt supply first exceeds GBP 5,000 or supplies to one customer exceed GBP 10,000 in 12 month…

    GBP 5,000 per supply / GBP 10,000 per customer per 12 months

    法律原文金额未确认

    • VAT Regulations 1995; VAT tertiary legislation, reg 31A

  • LBMA suspended six Russian refiners (Krastsvetmet, Novosibirsk, Uralelectromed, Moscow Special Alloys, Prioksky, Shyolkovsky) from the Good Delivery List on 7 Mar 2022; their bars made from that date are not Good Delivery; stocks already in loco London/Swiss before then remain Good Delivery.

    标准

    • LBMA Good Delivery List

  • Import of gold originating in Russia that was exported from Russia on or after 21 Jul 2022 is prohibited (reg 46Z11); so are acquiring gold that originated in and is located in Russia with the intention that it enter the UK (46Z12), supplying or delivering gold that originated in Russia on or after …

    none

    法律原文

    • Russia (Sanctions) (EU Exit) Regulations 2019 as amended by SI 2022/850, regs 46Z11-46Z16; Sch 3G

  • Import of relevant processed gold - gold processed (altered, transformed or otherwise operated on) in a third country that incorporates gold which on or after 21 Jul 2022 originated in and was exported from Russia - is prohibited (46Z16C), as is import of gold jewellery (Sch 3G Part 3) originating i…

    法律原文

    • SI 2022/1110 (Chapter 4JA), regs 46Z16B, 46Z16C, 46Z16D-46Z16I

  • All smuggled gold may be liable to forfeiture under the Customs and Excise Management Act 1979, even in the hands of an innocent buyer; HMRC advises buyers to check where the gold came from, whether it was declared at import with import VAT paid, and warning signs (below-market price, quick settleme…

    官方指引

    • Customs and Excise Management Act 1979; VAT Notice 701/21 s.14

第 4 段：巴西

回到原产国：出口收益

  1. 43

    Receive the foreign buyer's payment; the exporter may keep the foreign currency abroad or convert it through an FX contract

    执行方
    Authorised institution exporting gold as a financial asset / exchange instrument
    出具
    Foreign buyer's payment of export proceeds
    法律原文

    • Lei 11.371/2006 art. 1 as reworded by Lei 14.286/2021 art. 26; Resolução BCB 277/2022, Lei 14.286 art. 26; Res. 277 art. 46

国家之间的衔接

  • 巴西 → 瑞士 已研究

    随货跨境的文件: NF-e Ouro - remittance note (PCO to head office/refinery); Domestic refiner's bar list / certificate; NF-e Ouro - export of gold (financial asset / exchange instrument); Packing list; Air waybill; Consignment Security Declaration; e-DMOV de saída (gold as financial asset); RVES / RVFV - customs security-element and physical verification reports in the e-DMOV; Pre-shipment notification to refiner/buyer

  • 瑞士 → 英国 已研究

    随货跨境的文件: Electronic customs import declaration (commercial import; simplified and oral declarations excluded for melt material); Refiner outturn/assay report (Switzerland); Purchase book: customer, ID proof, acceptance date, description and marking, weight on acceptance, weight after melting, completion; Bar list (serials, weights, fineness); Passar export declaration (HS 7108); Veranlagungsverfuegung Ausfuhr; Air waybill (outbound)