Platinum Price in Singapore Dollars (SGD)

Yes, investment-grade platinum with a purity of 99% or higher is exempt from Singapore's Goods and Services Tax, which currently stands at 9%. This exemption was introduced as part of Singapore's broader initiative to establish itself as a premier precious metals hub in Asia. To qualify, the platinum must be in the form of a bar, ingot, wafer, or coin. Platinum jewelry and items below the 99% purity threshold remain subject to the standard GST rate.

Singapore does not impose any capital gains tax on individuals, which means profits from buying and selling investment platinum are entirely tax-free for personal investors. Combined with the GST exemption on investment-grade platinum (99%+ purity), this makes Singapore one of the most tax-efficient jurisdictions in the world for platinum investment. There is no wealth tax, inheritance tax, or estate duty either, further enhancing Singapore's appeal as a location for holding precious metals.

Platinum bars and coins can be purchased from several reputable dealers in Singapore. BullionStar is one of the most well-known specialist dealers, offering a wide range of platinum products along with secure vault storage options. GoldSilver Central is another established dealer that stocks platinum bars from LPPM-approved refiners. Some banks may also facilitate precious metals purchases. Online ordering with delivery or vault storage is available from most dealers, making it convenient to invest in platinum without visiting a physical store.

Singapore offers a uniquely attractive environment for platinum investment due to its combination of tax advantages and market infrastructure. Investment platinum is exempt from GST, and there is no capital gains tax for individuals, meaning your returns are entirely tax-free. Beyond the tax benefits, platinum has strong long-term demand fundamentals driven by the growing hydrogen economy, where platinum is a critical catalyst in fuel cell technology. Singapore's political stability, world-class vault infrastructure, and strategic location in Asia make it an ideal base for building a platinum position.