November 8 2019
If you buy gold, you have something to hide. That seems to be the logic behind the Federal Government’s recent legislative proposal. Embedded in the draft of the “Law Implementing the Amending Directive to the Fourth EU Money Laundering Directive”, every gold purchase worth more than 2000 euros is to be reported in the future.
So far, consumers can buy up to 10,000 euros of gold, without a message to the tax authorities. The bill states: “The findings of the national risk analysis have shown that, particularly in the area of gold trading, strong cash flows are just below the current threshold for the obligation to identify EUR 10,000.