The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide – GST: Guide on Exemption of Investment Precious Metals (IPM) (Fifteenth Edition). The guide provides details on the GST exemption of investment gold, silver, and platinum (Investment Precious Metals – IPM) and is relevant to businesses that trade in physical gold, silver, and platinum. In general, the importation and local supply of precious metals qualifying as IPM are exempt from GST, while the supply of qualifying IPM exported from Singapore is zero-rated. The supply of precious metals not qualifying as IPM is taxable.
Source Orbitax
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