GST on Gold in Singapore
Investment precious metals have been GST-exempt since 1 October 2012. Jewellery carries 9% GST on the full price. Today 10 grams of 24K gold cost $1,593 at the world price, with no tax on investment bars and coins.
Rules checked 26 October 2026 · Prices Oct 30, 2026, 21:55 UTC · Not tax advice
Gold in Singapore today, with tax
SGD · Oct 30, 2026, 21:55 UTC| Weight | World price, 24K gold | Bar or coin, with tax and duty | 916 jewellery metal, with tax |
|---|---|---|---|
| 1 gram | $159.32 | $159.32 | $159.07 |
| 10 grams | $1,593 | $1,593 | $1,591 |
| 1 ounce | $4,955 | $4,955 | $4,948 |
| 100 grams | $15,932 | $15,932 | $15,907 |
| 1 kilo | $159,319 | $159,319 | $159,070 |
The rules in Singapore
| What you buy | Tax | Details |
|---|---|---|
| Bars and bullion coins | 0% | Investment precious metals have been GST-exempt since 1 October 2012. Gold of at least 99.5% purity in bar, ingot or wafer form from an approved refiner, plus prescribed coins (for example Maple Leaf, Panda, Singapore Lion, Philharmonic). Proof and collector coins are taxed. |
| Jewellery | 9% | Jewellery carries 9% GST on the full price. Charged on: full value. |
| Import duty | 0% | No customs duty on gold. |
| Tourist refund | Yes | Tourist Refund Scheme (eTRS) for tourists aged 16+. Minimum S$100 including GST at one retailer (up to three same-day receipts can be combined). Goods must leave by air from Changi or Seletar. Refund agencies deduct an admin fee. Investment gold is GST-exempt, so there is nothing to refund. |
Compared with nearby countries
| Country | Bars and coins | Jewellery | Import duty |
|---|---|---|---|
| Singapore | 0% | 9% | none |
| China | 0% | 18.9% | none |
| Hong Kong | 0% | 0% | none |
| Japan | 10% | 10% | none |
| South Korea | 10% | 10% | none |
| Malaysia | 0% | 0% | none |
| Thailand | 0% | 0% on the gold | none |
| Vietnam | 0% | 0% on the gold | none |
| Indonesia | 0% | 1.65% | none |
| Philippines | 12% | 12% | none |
GST on Gold in Singapore: FAQ
Is there GST on gold in Singapore?
Investment precious metals have been GST-exempt since 1 October 2012. Jewellery carries 9% GST on the full price.
Do you pay GST on gold bars and coins in Singapore?
Investment precious metals have been GST-exempt since 1 October 2012. Gold of at least 99.5% purity in bar, ingot or wafer form from an approved refiner, plus prescribed coins (for example Maple Leaf, Panda, Singapore Lion, Philharmonic). Proof and collector coins are taxed.
Is there import duty on gold in Singapore?
No customs duty on gold.
Can tourists claim back the GST on gold in Singapore?
Yes. Tourist Refund Scheme (eTRS) for tourists aged 16+. Minimum S$100 including GST at one retailer (up to three same-day receipts can be combined). Goods must leave by air from Changi or Seletar. Refund agencies deduct an admin fee. Investment gold is GST-exempt, so there is nothing to refund.
Why is the gold price in Singapore different from the world price?
Very small: 50 cents to $1.50/oz over the benchmark on 9 Oct 2026.
Sources (3)
- IRAS: GST guide, exemption of investment precious metals (IRAS e-Tax Guide)
- Singapore Customs: Tourist Refund Scheme (accessed 2026-10)
- Engineering News (Reuters): Singapore premium 50c-$1.50 (2026-10-09)
Related
General information on the tax a private buyer pays, checked 26 October 2026. Rules change; check with the seller, the tax authority or an adviser. Not tax advice.