Kubikly

Jewellery, gold and diamonds

Jewellery VAT and sales tax by country

The last line on a jewellery invoice is tax, and it varies more than anything else about the price. The same ring costs 27% more in Denmark than in Hong Kong before anyone has made a margin.

CountryRateNote
Hong Kong0%No VAT; a reason it is a jewellery hub
United States0–10%No federal VAT; state and local sales tax at checkout
United Arab Emirates5%VAT introduced 2018
India3%GST on gold jewellery; 5% on making charges
Switzerland8.1%
Japan10%
Australia10%GST
Singapore9%GST
Israel18%
Germany19%
France20%
United Kingdom20%
Türkiye20%
Italy22%
Netherlands21%
Belgium21%
Denmark25%
Sweden25%
Norway25%
Finland25.5%

What the tax applies to

VAT is charged on the full retail price including the stone, the making and the margin. Second-hand dealers in the EU and UK often use a margin scheme, charging VAT only on their margin, which is why a used piece from a dealer carries less tax than the sticker suggests.

Buying abroad

Tourists can often reclaim VAT on the way out, but import duty and VAT are due on the way in; the saving is usually smaller than the exchange-rate difference. Kubikly prices in the country you choose so the comparison is apples to apples.

Making charges

India taxes making charges separately; most countries fold them into the price. The estimate shows making as its own line so you can see what is being taxed.

Price a piece in your country

Frequently asked

Is there VAT on gold coins and bars?
Investment gold (bars and many coins) is VAT-exempt in the EU and UK; jewellery is not.
Does the estimate include tax?
Yes. Retail incl. VAT is the headline for a new piece, with the ex-VAT figure shown beside it and the rate for the country you pick.
Which US rate does it use?
Zero, with a note that state and local sales tax of 0–10% applies at checkout.

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