What is the purpose of the GST exemption for the importation of Investment Precious Metal (IPM)? When will it take effect?
The intent of the GST exemption of Investment Precious Metals (IPMs) is to facilitate the development of a new gold refining and trading cluster in Singapore.
IPMs are essentially financial assets, just like other actively traded instruments (stocks and bonds).
The GST exemption serves to align GST treatment with the practices of many developed economies like Australia, UK and Switzerland. The GST exemption is effective from 1 October 2012.
Related questions
I intend to bring some gold nuggets into Singapore. Do I have to declare and make GST payment?
What are the permit requirements for importing Investment Precious Metals (IPMs) into Singapore?
Does GST exemption for Investment Precious Metals (IPMs) apply to coins?
What are the qualifying criteria of Investment Precious Metals (IPMs) in order for GST exemption to be granted on the import?
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