Singapore Scraps it’s 7% Tax on Gold and Silver
Singapore scraps it’s 7% tax on gold and silver in an effort to turn the city into a precious-metals trading hub to rival London and Zurich. “There has been a dramatic increase in customers wanting to move out of paper, that is over-the-counter gold, and into physical,” said Cedric Chanu, director, Asia precious-metals trading at Deutsche Bank. “We’re seeing customers wanting to move their gold from Europe into Singapore.”
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