# Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax, Article 354

Extent: E+W+S+N.I.

Where his subsequent supply of investment gold is exempt pursuant to this Chapter, the taxable person shall be entitled to deduct the following:
(a) the VAT due or paid in respect of investment gold supplied to him by a person who has exercised the right of option under Articles 348 and 349 or supplied to him in accordance with Section 4;
(b) the VAT due or paid in respect of a supply to him, or in respect of an intra-Community acquisition or importation carried out by him, of gold other than investment gold which is subsequently transformed by him or on his behalf into investment gold;
(c) the VAT due or paid in respect of services supplied to him consisting in a change of form, weight or purity of gold including investment gold.

---
Source: https://www.legislation.gov.uk/eudr/2006/112/article/354 (the official version)
Page: https://openlegislation.uk/eu-directive-2006-112/article-354
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.