Do I have to pay tax to bring gold into Singapore for my personal use? (Item categorised as Investment Precious Metals (IPM))
The importation of Investment Precious Metals (IPMs) into Singapore for commercial or personal use is exempted from Goods and Services Tax (GST).
Importation of IPMs by air freight, of a total Cost, Insurance and Freight (CIF) value not exceeding S$400, does not require a Customs Permit. The importation of IPMs by air freight, of CIF value exceeding S$400 will require a Customs Permit. For importation of IPMs by other freight modes will require a Customs Permit regardless of the IPM value.
For importation of IPMs by parcel post, no Customs permit is required.
All importation of IPMs by hand-carry, for commercial purposes, requires a Customs permit. A Customs permit is not required for hand-carry IPMs for personal use with total weight not exceeding 500g. A Customs permit is required for importation of IPMs for personal use with total weight exceeding 500g.
Related questions
I intend to bring some gold nuggets into Singapore. Do I have to declare and make GST payment?
I am importing some Investment Precious Metals (IPM) into Singapore. Do I have to obtain a Customs exemption permit for clearance to enjoy GST exemption for IPM?
What are the permit requirements for importing Investment Precious Metals (IPMs) into Singapore?
I am moving to Singapore and will import my used household articles and personal effects (PE). I have some Investment Precious Metals (IPMs). Can I declare the IPMs as part of my PE?
