Rising Prices: Pay Attention to the Tax Aspects of Buying and Selling Gold for Maximum Profit
Gold is an asset often used as a hedge because it is relatively safe from inflation risk. Therefore, gold prices tend to rise during economic fluctuations.
Recently, for example, when trade war issues emerged and caused market turbulence, gold prices increased. According to logammulia.com data, as of 22 April 2025, the price of Antam precious metals reached IDR 2,016,000 per gram.
Besides being a hedge, gold is also used by some as an investment instrument. Hoping to gain profit from the difference between buying and selling prices, many people turn to gold as a way to earn returns.
However, before using gold as a profit-seeking investment tool, it is important to understand its tax aspects. By knowing and understanding the tax aspects of buying and selling gold, you can more accurately project potential profits.
For individual taxpayers engaging in gold transactions, the main points to consider include the tax rules when purchasing, selling, and reporting transactions in the Annual Tax Return (SPT).
Tax Aspects When Buying Gold
When buying gold from producers, such as PT Antam, you are subject to Income Tax Article (ITA) 22. However, the ITA 22 collection on gold purchases is exempt if the buyer is the final consumer.
According to Minister of Finance Regulation (PMK) No. 48 of 2023, the ITA 22 rate on gold purchases is 0.25% of the purchase price if you have a Tax ID Number (TIN). If you do not have a TIN, the rate is twice as high, at 0.5% of the purchase price.
| TIN Status | ITA 22 Rate on Gold Purchases |
| Taxpayer with TIN | 0.25% of the purchase price |
| Taxpayer without TIN | 0.5% of the purchase price |
Tax Aspects When Selling Gold
If you resell gold for more than IDR 10 million, ITA 22 applies at a rate of 1.5% of the selling price if you have a TIN. Without a TIN, the rate increases to 3% of the selling price.
Thus, having a TIN is very important as it affects how much profit you can earn from gold transactions.
| TIN Status | ITA 22 Rate on Gold Sales |
| Taxpayer with TIN | 1.5% of the selling price |
| Taxpayer without TIN | 3% of the selling price |
Tax Return Filing
If there is a difference between the buying and selling price, the resulting profit must be reported in the individual taxpayer’s Annual Income Tax Return. This profit is considered additional income and is subject to progressive Income Tax under Article 17 of the Income Tax Law.
Additionally, if the gold purchased is still owned as of 31 December, it must be listed in the Annual Income Tax Return under assets, recorded at the acquisition cost.
The individual taxpayer’s Annual Tax Return must be submitted no later than the end of the third month after the tax year ends, i.e., by 31 March.
Conclusion
The growing interest in gold as a hedge and investment highlights the importance of understanding the tax aspects of every gold transaction.
Whether buying, selling, or reporting in the Annual Tax Return, applicable tax rules can significantly affect the profits earned.
By understanding ITA 22 and the importance of having a TIN, investors can create a more careful and profitable gold investment strategy.
Remember, compliance with tax reporting is also key to keeping your investment safe both legally and financially.
