{"id":20253,"date":"2026-10-05T05:43:02","date_gmt":"2026-10-05T04:43:02","guid":{"rendered":"https:\/\/metalsradar.com\/glossary\/investment-precious-metals-gst\/"},"modified":"2026-10-05T07:45:47","modified_gmt":"2026-10-05T06:45:47","slug":"investment-precious-metals-gst","status":"publish","type":"page","link":"https:\/\/metalsradar.com\/sg\/glossary\/investment-precious-metals-gst\/","title":{"rendered":"Investment Precious Metals (IPM) and GST"},"content":{"rendered":"<div class=\"mrf-gl\"><p class=\"gl-def\">Investment Precious Metals (IPM) are gold, silver and platinum bars, ingots, wafers and listed coins that meet IRAS purity and market criteria. Their import and local supply have been exempt from GST in Singapore since 1 October 2012.<\/p><aside class=\"panel gl-live\"><p class=\"gl-live-h\">\ud83c\uddf8\ud83c\uddec Today in Singapore<\/p><div class=\"gl-row\"><span>Gold, 1 troy ounce (spot)<\/span><b>S$5,320<\/b><\/div><div class=\"gl-row\"><span>Cheapest 1 oz gold coin: <a href=\"https:\/\/metalsradar.com\/sg\/product\/1-oz-krugerrand-gold-coin\/\">1 oz Krugerrand Gold Coin<\/a><\/span><b>S$5,494.70<\/b> <small>+3.3% premium<\/small><\/div><p class=\"gl-src\">Data as of 05.10.2026, updated daily.<\/p><a class=\"btn primary\" href=\"https:\/\/metalsradar.com\/sg\/cheapest-gold-coins\/\">Compare gold coin prices \u203a<\/a><\/aside><div class=\"gl-body\"><h2>What counts as IPM<\/h2><p>Singapore removed GST from investment-grade precious metals with effect from 1 October 2012, treating them like other financial assets. The rules are set out in the IRAS e-Tax Guide on the exemption of Investment Precious Metals. To qualify, an item must meet all of these criteria:<\/p><ul><li><strong>Purity:<\/strong> gold of at least 99.5%, silver of at least 99.9%, or platinum of at least 99%.<\/li><li><strong>Form:<\/strong> a bar, ingot, wafer or coin.<\/li><li><strong>Tradeable on the international bullion market:<\/strong> bars must come from a refiner on the current or former <a href=\"lbma}}\">LBMA<\/a> (or LPPM for platinum) Good Delivery list, or one endorsed by Enterprise Singapore, and carry the refiner's mark.<\/li><li><strong>Priced on metal content:<\/strong> the item trades at a price based on the spot price of the metal it contains.<\/li><li><strong>Coins:<\/strong> must be legal tender in their country of origin and appear on the prescribed IPM coin list in the GST Act.<\/li><\/ul><h2>The coin list, and the surprise for Krugerrand and Eagle buyers<\/h2><p>The prescribed gold coins include the American Buffalo, Australian Kangaroo Nugget, Austrian Philharmonic, Canadian Maple Leaf, China Panda, Malaysia Kijang Emas, Mexican Libertad, the Singapore Lion from The Singapore Mint and the UK Britannia, among others. Silver coins on the list include the American Eagle, Maple Leaf, Britannia, Libertad, Kookaburra and the silver Krugerrand.<\/p><p>The gold Krugerrand and the gold American Eagle are struck in 22 <a href=\"karat}}\">karat<\/a> (916.7) gold. That is below the 99.5% threshold, so they are not on the gold IPM list and their supply is standard-rated. Since 1 January 2024 the GST rate in Singapore is 9%. In practice this means two coins with the same one ounce of fine gold can carry very different final prices here:<\/p><table><thead><tr><th>Coin<\/th><th>Gold purity<\/th><th>GST treatment in Singapore<\/th><\/tr><\/thead><tbody><tr><td>1 oz Gold Kangaroo (Nugget)<\/td><td>99.99%<\/td><td>IPM, exempt<\/td><\/tr><tr><td>1 oz American Gold Buffalo<\/td><td>99.99%<\/td><td>IPM, exempt<\/td><\/tr><tr><td>1 oz Krugerrand (gold)<\/td><td>91.67%<\/td><td>Non-IPM, 9% GST<\/td><\/tr><tr><td>1 oz American Gold Eagle<\/td><td>91.67%<\/td><td>Non-IPM, 9% GST<\/td><\/tr><\/tbody><\/table><p>Before buying a <a href=\"\/sg\/product\/1-oz-american-eagle-gold-coin\/\">1 oz American Gold Eagle in Singapore<\/a>, check whether the quote already includes GST, then compare it with an exempt coin such as the <a href=\"\/sg\/product\/1-oz-american-buffalo-gold-coin\/\">1 oz Gold Buffalo<\/a>. Our ranking of <a href=\"\/sg\/cheapest-gold-coins\/\">gold coins by final price<\/a> shows the totals side by side.<\/p><h3>What is never IPM<\/h3><p>Jewellery (including 916 gold bangles and chains), scrap, proof and collector versions of listed coins, and bars from refiners outside the accepted lists remain taxable. IRAS names Singapore Lion gold proof coins as an example of a non-IPM coin. See our entry on <a href=\"numismatic}}\">numismatic coins<\/a> for why proofs are treated differently.<\/p><h2>Income tax and cash rules<\/h2><p>Singapore does not have a capital gains tax, and IRAS states that gains from personal investments are generally not taxable. Gains from trading, where buying and selling amounts to a business, can be taxed as income. If you deal frequently or buy to resell, check your position with IRAS.<\/p><p>Separately, the Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act 2019 requires regulated dealers to file a Cash Transaction Report when they sell to, or buy from, a customer for cash or cash equivalent above S$20,000, including several same-day transactions that add up past that amount. Expect to show identification for large cash purchases or sales.<\/p><\/div><h2>Related terms<\/h2><p class=\"gl-chips\"><a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/sg\/glossary\/fineness\/\">Fineness<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/sg\/glossary\/numismatic-coins\/\">Numismatic Coins<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/sg\/glossary\/lbma-good-delivery\/\">LBMA Good Delivery<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/sg\/glossary\/karat\/\">Karat<\/a><\/p><section class=\"mrf-faq\"><h2>FAQ<\/h2><div class=\"faq-list\"><details open><summary><h3>Is there GST on gold in Singapore?<\/h3><\/summary><div class=\"a\"><p>Gold bars and listed coins that qualify as Investment Precious Metals are exempt from GST, while jewellery, proof coins and gold coins below 99.5% purity are charged GST at 9%.<\/p><\/div><\/details><details><summary><h3>Is the gold Krugerrand GST-exempt in Singapore?<\/h3><\/summary><div class=\"a\"><p>No. The gold Krugerrand is 22 karat gold and is not on the IPM gold coin list, so GST applies; the silver Krugerrand is on the IPM silver list.<\/p><\/div><\/details><details><summary><h3>Do I pay tax on gold profits in Singapore?<\/h3><\/summary><div class=\"a\"><p>Singapore has no capital gains tax and IRAS treats gains from personal investments as generally not taxable, but profits from trading as a business can be taxed as income.<\/p><\/div><\/details><\/div><\/section><details class=\"gl-src-list\"><summary>Sources<\/summary><ul><li><a href=\"https:\/\/www.iras.gov.sg\/media\/docs\/default-source\/e-tax\/gst-guide-on-exemption-of-investment-precious-metals7f0062ff-780a-4a53-90fa-e1f3b1e25770.pdf\" rel=\"nofollow noopener\" target=\"_blank\">IRAS e-Tax Guide: GST Exemption of Investment Precious Metals (IPM)<\/a><\/li><li><a href=\"https:\/\/www.iras.gov.sg\/taxes\/goods-services-tax-(gst)\/charging-gst-(output-tax)\/when-is-gst-not-charged\/supplies-exempt-from-gst\" rel=\"nofollow noopener\" target=\"_blank\">IRAS: Supplies exempt from GST<\/a><\/li><li><a href=\"https:\/\/www.iras.gov.sg\/taxes\/individual-income-tax\/basics-of-individual-income-tax\/what-is-taxable-what-is-not\/gains-from-sale-of-property-shares-and-financial-instruments\" rel=\"nofollow noopener\" target=\"_blank\">IRAS: Gains from sale of property, shares and financial instruments<\/a><\/li><li><a href=\"https:\/\/www.police.gov.sg\/advisories\/commercial-crimes\/suspicious-transaction-reporting-office\/cash-transaction-reporting\" rel=\"nofollow noopener\" target=\"_blank\">Singapore Police Force (STRO): Cash Transaction Reporting for precious stones and precious metals dealers<\/a><\/li><\/ul><\/details><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":0,"featured_media":0,"parent":20237,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"class_list":["post-20253","page","type-page","status-publish","hentry"],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"","author_link":"https:\/\/metalsradar.com\/sg\/"},"comment_info":0,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/types\/page"}],"replies":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/comments?post=20253"}],"version-history":[{"count":1,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20253\/revisions"}],"predecessor-version":[{"id":20341,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20253\/revisions\/20341"}],"up":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20237"}],"wp:attachment":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/media?parent=20253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}