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Business Times - 17 Feb 2012 http://www.businesstimes.com.sg/sub/storyp...,478378,00.html? BUDGET - Reaction S'pore now comparable to rivals with GST exemption on gold : PwC By ANGELA TAN The exemptions of investment grade gold from GST will effectively make physical gold 7 per cent cheaper overnight. 'In one stroke, it has made the price of gold in Singapore comparable with other locations such as Hong Kong and Malaysia , which do not have a GST regime,' Yip Yoke Har, Tax Partner at PwC Services LLP (Singapore) said. Earlier, Deputy Prime Minister and Finance Minister, Tharman Shanmugaratnam, said in his Budget speech on Friday, that the government will facilitate the development of gold trading, which can draw on Singapore's strengths as an international financial centre and trading hub, to meet strong demand for investment-grade gold in Asia. He said Investment-grade gold and other precious metals will be exempted from GST. 'This change brings our tax treatment of investment-grade gold and precious metals in line with the practices of many developed economies, like Australia, UK and Switzerland,' Mr Tharman said. Copyright