Singapore Publishes Updated GST Guide on Exemption of Investment Precious Metals

The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide - GST: Guide on Exemption of Investment Precious Metals (IPM) (Eighteenth 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 such precious metals. In general, the importation and local supply of precious metals qualifying as IPM are exempt from GST, while the supply of qualifying IP…