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Singapore Customs

Importing Investment Precious Metals

Learn the requirements, permits, and GST exemption criteria for importing investment precious metals into Singapore

Last updated 23 February 2026

Investment precious metals (IPMs) that meet the qualifying criteria are exempted from Goods and Services Tax (GST) when imported into Singapore. This applies to both commercial and personal imports.

Check if Your Item Qualifies as IPM

GST exemption applies only to precious metals that meet the criteria set by the Inland Revenue Authority of Singapore (IRAS).

Before importing, you should:

  • Understand the qualifying criteria, and

  • Conduct a self-assessment.

Visit the IRAS website and e-Tax Guide “GST: Guide on Exemption on Investment Precious Metals (IPM)” for the full list of:

  • Approved bars, wafers and ingots

  • Qualifying coins

  • Technical criteria (fineness, weight, presentation, accreditation)

  • Examples of items not considered IPMs

This IRAS list determines whether the import is GST-exempt.

Import Permit Requirements

Depending on the method of entry into Singapore, you may need to obtain a permit or follow specific clearance procedures.

IPMs Imported by Air/Sea Freight or by Land

Air Freight

Sea or Land Freight

  • You must obtain an In-Non Payment (GST Relief) permit regardless of CIF value.

What to declare in the GST Relief permit

TradeNet Declaration Fields for Importing IPM

Field

What to enter

Place of Receipt Code

IGPM

Claimant UEN

Importer’s UEN

Harmonised System (HS) code(s)

Relevant IPM HS code

Supplier name

Name of refiner who produced the bar/wafer/ingot

Brand name

Name of the qualifying coin

CA/SC Product Code

“BAR”, “INGOT”, “WAFER”, “GOLDCOIN”, “SILVERCOIN”, or “PLATINUMCOIN”

CA/SC Product Code Quantity/UOM

“xxx NMB”

CA/SC Code 1

Purity value (e.g., 99.8). Do not include the % symbol.

You must obtain the GST relief permit before importing and present it at the checkpoint.

Exception for Trade Samples

If the IPMs are imported as trade samples and the CIF value is ≤ S$400, GST relief applies and no permit is required.

HS Codes for IPMs

HS Codes for IPM by Product Type

Type of IPM

HS Code(s)

Gold – Bar/Wafer

Monetary*: 71082000
Non-monetary: 71081300

Gold – Ingot

Monetary*: 71082000
Non-monetary: 71081210

Gold – Coin

71189010

Silver – Bar/Wafer

71069200

Silver – Ingot

71069100

Silver – Coin

71181010 or 71189020

Platinum – Bar/Wafer

71101900

Platinum – Ingot

71101110

Platinum – Coin

71181090 or 71189090

*Monetary gold refers to gold exchanged between national or international monetary authorities or authorised banks.

IPMs Imported by Post

No Customs permit is required for IPMs imported by parcel post.

IPMs Imported by Hand-Carry

For commercial use: 

For Personal Use:

  • If the total weight of hand-carried IPMs is 0.5 kilogrammes or below, no Customs permit is required.

  • If the total weight is more than 0.5 kilogrammes, you must obtain an In-Non Payment (GST Relief) permit.

You must obtain the GST relief permit before importing and present it at the checkpoint for clearance.

Clearance of IPMs

For Air/Sea/Land Freight

You must present:

  • The relevant import permit (if required), and

  • Supporting documents such as:

    • commercial invoice

    • Packing list

    • Bill of Lading or Air Waybill

These documents must be presented for verification.

For Hand-Carried IPMs

Proceed to the Red Channel after immigration clearance and declare the IPMs to the checkpoint officer.

You must bring:

  • Import permit (if applicable)

  • Invoices

  • Certificates (if any)

  • Any supporting documents

Approved Refiner and Consolidator Scheme

The Approved Refiner and Consolidator Scheme (ARCS), administered by the Inland Revenue Authority of Singapore (IRAS), helps qualifying refiners and consolidators to:

  • Ease cash flow when importing raw materials,

  • Simplify GST compliance, and

  • Recover input tax on refining activities

Refer to IRAS website for more information.