I buy back used gold and precious metals, do I have to pay the HBJOAT tax?

Short answer

Yes, insofar as your activities include the resale of these metals or second-hand items falling within the HBJOAT sector.

Explanation

The activity of buying back gold and precious metals can cover two distinct aspects:

• The pure buyout (acquisition): if you are only buying back to resell in the form of raw material (ingot, cast iron), you may not be subject to the HBJOAT tax depending on the nature of the final product.
• Reselling second-hand items (jewelry, rings, gold necklaces, etc.): as soon as you resell these items as jewelry or goldsmithing items, you are subject to the HBJOAT tax on this resale turnover.

Case of precious metal items resold as jewelry

If you buy back gold or silver jewelry for resale (rings, bracelets, necklaces, etc.), these items are taxable because they fall under the CN codes for jewelry, precious metals, and silverware. The HBJOAT tax applies to their resale at the rate of 0,19 % of the revenue excluding VAT.

What should you do if you are in doubt?

If your business involves both reselling items and selling raw materials, it is advisable to clearly separate the two flows in your accounting and only declare the portion corresponding to the resold HBJOAT items. If in doubt, contact Francéclat via teletax.fr.