To qualify as Investment Precious Metals (IPMs) so that GST exemption can be granted, the precious metals (gold, silver, and platinum) must satisfy the following IPM qualifying criteria:

• The purity content of the gold, silver, and platinum should be at least 99.5%, 99.9%, and 99% respectively.
• The precious metals must be capable of being traded on the international bullion market and are in the form of bars, wafers, ingots or coins;
• For bars, wafers or ingots, they must be produced by accredited or endorsed refiners.
• For coins, they must be prescribed in the IPM Qualifying Coin List and are or were legal tender in their country of origin.
• The precious metals bear a mark or characteristic internationally accepted as guaranteeing its quality.
• The precious metals are not decorative bars, ingot, wafer or collector's bars, ingots or wafers.

 

Please refer to the Inland Revenue Authority of Singapore (IRAS) website and e-Tax Guide "GST: Guide on Exemption on Investment Precious Metals (IPM)".