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Singapore Customs

GST Exemption for Investment Precious Metals

Be exempt from paying Goods and Services Tax if you meet the Investment Precious Metals Qualifying Criteria during importing of IPM into Singapore. Find out what qualifies and doesn’t qualify as IPM, the permit requires and what to do upon arrival.

Last updated 23 February 2026

You do not need to pay Goods and Services Tax (GST) when importing investment precious metals (IPMs) into Singapore if the IPMs meet the qualifying criteria.

IPMs typically include investment-grade gold, silver, or platinum that are traded for investment purposes and meet approved standards.

Refer to the GST exemption for IPMs.

What Qualifies as IPM

To qualify for GST exemption, the precious metals must meet all of the following criteria:

  • They are refined precious metals (e.g., gold, silver, platinum) of a specified purity.

  • They are tradeable and typically used for investment purposes.

  • They are in the form of ingots, bars, wafers, or coins that meet approved international standards.

Examples of Qualifying IPM

  • Gold bars with a purity of 99.5% or higher

  • Silver bars with a purity of 99.9% or higher

  • Platinum bars with a purity of 99% or higher

  • Coins listed on the Third Schedule of the GST Act

What Does Not Qualify as IPM

The following items do not qualify for GST exemption:

  • Jewellery or decorative pieces

  • Collectible coins or commemorative coins

  • Precious metals that do not meet the required purity

  • Scrap precious metals or semi-processed forms

  • Medals, ornaments, or items primarily for gifting

Hand-carried IPMs

For Commercial Imports

You must obtain an In-Non Payment (GST Relief) Permit when bringing IPMs into Singapore by hand for commercial purposes.

For Personal Use

If you are hand-carrying IPMs for personal use:

  • No permit is required if the total weight is 0.5kg or less.

  • A GST Relief Permit is required if the total weight exceeds 0.5 kg. You must present this permit at the checkpoint upon arrival.

  • Individuals may engage a List of Local Forwarding Agents to apply for the In-Non Payment (GST Relief) Permit on their behalf.

What to Do Upon Arrival

  1. Proceed to the Customs Red Channel after immigration clearance.

  2. Declare all IPMs you are carrying to the checking officer.

  3. Prepare and present all supporting documents, such as:

    • Import permit

    • Commercial invoice(s)

    • Relevant certificates (e.g. purity certifications)