Tax Information | GoldPenthouse

Last updated: 7 July 2026

This page is for general information only and does not constitute tax advice, and no rights can be derived from it. Rules vary by country and by individual circumstances. For advice specific to your situation, please consult your accountant or tax advisor.

1. Gold and Income Tax

We regularly receive questions about how best to handle physical gold in relation to income tax. This page explains the general tax aspects of owning physical gold. It is not personal advice, and rules can differ depending on where you live.

In many jurisdictions, including the Netherlands, ownership of physical precious metals is treated as a form of investment asset. This generally means it must be declared as part of your wealth-based tax return (for example, Box 3 of the Dutch income tax return, which covers income from savings and investments). It is your own responsibility as a private individual to file this correctly.

2. Gold Reference Date (Price per Kg)

When declaring the value of your gold, you generally need to use a value determined on a specific reference date (sometimes called a "peildatum" in the Netherlands). In the Dutch system, this date is always 1 January of the new tax year. Below is an overview of gold's closing price on this date over recent years, shown in price per kilogram.

Reference Date	Gold Price (per kg)
1 January 2026	€118,333
1 January 2025	€81,515
1 January 2024	€60,173
1 January 2023	€54,663
1 January 2022	€51,713
1 January 2021	€50,853
1 January 2020	€43,522
1 January 2019	€36,017
1 January 2018	€34,768
1 January 2017	€35,317
1 January 2016	€31,325
1 January 2015	€31,615

The prices above are per kilogram of gold. To value your own holdings, divide the relevant figure by 1,000 for a per-gram price, or by 31.1035 for a price per troy ounce, then multiply by the weight of gold you hold.

Note: If you purchased your gold partway through the year, you generally do not need to declare that specific holding until the following tax year's return. For example, if you buy gold in mid-2026, you would typically first declare it in your return for 2027 (based on the 1 January 2027 valuation). In most cases this does not mean you end up declaring less wealth than you actually hold, since whatever asset your gold replaced would usually have been declared instead on the prior valuation date.