I know the gold duty in India is very high. I’m curious about other popular destinations for Indians, like Singapore and Malaysia. What are their import duties on gold?
Both Singapore and Malaysia are significant hubs for gold trading and have policies to encourage it. As a result, neither country charges a traditional customs duty on the import of gold. However, they do apply their standard domestic taxes, which is GST in Singapore and SST in Malaysia.
The Custom Duty and Tax on Gold in Singapore
My friend, who travels to Singapore for business, explained their tax system. He confirmed that there is zero customs import duty on gold, which is a key reason for its popularity as a trading center. However, when you bring gold into the country, you are required to pay the standard Goods and Services Tax (GST) on its value. As of 2025, the GST rate in Singapore is 9% .
The Custom Duty and Tax on Gold in Malaysia
I was speaking with a colleague from Kuala Lumpur, and she described a very similar policy in Malaysia. They also have no customs duty on imported gold bullion or jewellery. But, like Singapore, they levy their domestic sales tax. In Malaysia, this is the Sales and Service Tax (SST) , and the rate for finished goods like jewellery is 10% of the assessed value.
Exception on Investment Precious Metals (IPM)
My family jeweller pointed out a special rule for serious investors. He mentioned that both Singapore and Malaysia have an exemption for what is called “Investment Precious Metals”. This means if you are importing high-purity gold bars or coins that meet specific international standards, they are exempt from even the GST and SST. This exemption is what makes these countries attractive for bullion trading, but it does not apply to regular gold ornaments.
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