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What is the purpose of the GST exemption for the importation of Investment Precious Metal (IPM)? When will it take effect?

Updated by CUSTOMS

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. 

Topics:

Import ProceduresImporting Investment Precious Metals (IPMs)

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