Tax on Selling Gold in Singapore
Singapore has no capital gains tax, so an individual who sells gold held as an investment pays no tax on the gain. Profits are taxed as income only if IRAS treats your buying and selling as trading. Investment-grade bars and coins are also free of GST when you buy them.
Facts checked 30 October 2026 · Not financial, legal or tax advice
At a glance
| What you sell | How the gain is taxed | Notes |
|---|---|---|
| Gold bars and coins held as an investment | Not taxed: capital gains are not taxable. | Investment precious metals (gold of 99.5% purity or more) are GST-exempt. |
| Gold jewellery | Not taxed when sold as a personal item. | Jewellery isn't investment precious metal, so 9% GST applies when you buy it. |
| Gold bought and sold as a trade | Profit taxed as income at progressive rates. | IRAS looks at how often you deal, why you bought, and how long you held. |
| Silver | Same rules. | Silver bars of 99.9% purity or more qualify as investment precious metal. |
How gold gains are taxed
- IRAS says gains from selling property, shares and financial instruments are generally not taxable because Singapore doesn't tax capital gains. The same principle covers gold kept as a long-term investment.
- Gains can be taxed as income if you buy and sell with a profit-seeking motive. IRAS weighs how often you transact, why you bought and sold, whether you could afford to hold long term, and how long you held.
- Investment precious metals (IPM) are exempt from GST: gold of at least 99.5%, silver of at least 99.9% and platinum of at least 99% in bars, ingots, wafers or approved coins. Jewellery, collectible or commemorative coins and lower-purity metal are excluded.
- Dealers must file a cash transaction report for cash payments above S$20,000, including some purchases from customers. This is an anti-money-laundering rule, not a tax.
Reporting
- You don't declare gains that aren't taxable.
- If your gold dealing counts as trading, declare the profit in your annual Income Tax Return.
Losses
- Losses on gold held as an investment aren't deductible.
- If you're taxed as a trader, trading losses are deducted from trading income.
Tax on Selling Gold in Singapore: FAQ
Do I pay tax when I sell gold in Singapore?
Not normally. Singapore has no capital gains tax, so gains on gold held as an investment are not taxed. Profits are taxable only if IRAS considers you to be trading in gold.
Is there GST on gold in Singapore?
Not on investment precious metals: gold bars, wafers and approved coins of at least 99.5% purity are GST-exempt. Gold jewellery and collectible coins carry 9% GST.
Does a gold dealer report my sale?
Dealers must report cash transactions above S$20,000 to the authorities under anti-money-laundering rules. That report isn't a tax charge.
Sources (4)
General information about the rules for individual investors, checked October 2026. Tax depends on your circumstances and residence; check with the tax authority or an adviser. Not tax advice.