The French tax authorities have recently confirmed ("Reponse ministerielle Albertini", December 5, 1995) that precious metal ingots and gold coins acquired by a company belongs to the fixed assets of the company, provided the trade or the transformation of such goods is not the specific business of the company. This rule is a very favourable one since assets such as precious metal ingots and gold coins consequently still benefit from the long term capital gains regime, the scope of which tends to shrink year after year.

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