Silver Price in Singapore Dollars (SGD)

Yes, investment-grade silver with a purity of 99.9% or higher has been exempt from Singapore's Goods and Services Tax since October 2012. This exemption was introduced as part of Singapore's strategy to become a leading precious metals trading hub in Asia. The GST exemption applies to silver bars, coins, and wafers that meet the purity threshold. However, silver jewelry, collectible coins, and silver items below 99.9% purity are still subject to the standard 9% GST rate.

Singapore is one of the most tax-friendly jurisdictions in the world for silver investors. There is no capital gains tax for individuals, meaning profits from selling silver are completely tax-free. Investment-grade silver (99.9%+ purity) is also exempt from the 9% GST. This combination of zero capital gains tax and GST exemption makes Singapore exceptionally attractive for precious metals investment. However, if silver trading constitutes a business activity, profits may be subject to corporate or income tax.

Singapore has a well-developed precious metals retail market. BullionStar, located in the CBD area, is one of the most popular dealers offering a wide range of silver bars and coins with transparent pricing. GoldSilver Central operates a showroom and offers both buy and sell services. Silver Bullion Pte Ltd specializes in fully allocated, insured storage programs. UOB (United Overseas Bank) offers a silver savings account that tracks silver prices without requiring physical storage. Online ordering with vault storage or delivery is available from most dealers.

Singapore offers a uniquely favorable environment for silver investment. The absence of capital gains tax means all profits from silver appreciation are retained by the investor. The GST exemption on investment-grade silver eliminates the tax burden that exists in many other countries (such as the 20% VAT in the UK or 19% in Germany). Singapore also provides world-class secure storage infrastructure, including the Singapore Freeport and private vault facilities. The country's political stability, strong rule of law, and position as a global financial center add further appeal for precious metals investors.