The State Tax Service of Ukraine has clarified the tax obligations for individuals selling previously purchased bank-grade precious metals, such as gold, silver, platinum, and platinum-group metals.

Legal Status and Tax Exemption According to the State Tax Service of Ukraine, bank-grade metals of the highest purity (in bars, powders, or certified coins) are legally categorized as currency values. Under the Tax Code of Ukraine, gains and revenues from transactions involving currency values are excluded from an individual's taxable monthly or annual income.

Consequently, proceeds from such sales are exempt from:

  • Personal Income Tax (PIT);

  • Military Levy.

Annual Tax Declaration Requirements As reported by the State Tax Service of Ukraine, individuals do not need to file an annual income and property declaration solely because they sold bank-grade metals.

However, if a taxpayer is already required to file a return on other legal grounds—such as receiving foreign income or capital gains from investment assets—the income from selling bank metals must be included alongside other reported items.

Important Distinction Tax authorities emphasize that these rules apply exclusively to official bank-grade metals. Jewelry and household items made of precious metals do not carry the same status and are subject to different tax regulations, regardless of the underlying raw material.