“IPM” stands for Investment Precious Metals, as defined by Singapore Customs. These are physical gold, silver and platinum that meet specific conditions to qualify for Goods and Services Tax (GST) exemption, which has been in effect since 1 October 2012.
To be considered IPM, bullion must:
- Have a minimum purity of 99.5% (gold), 99.9% (silver), or 99% (platinum)
- Be internationally tradeable in global bullion markets
- Bear an internationally recognised hallmark of quality
Further conditions include:
Only bars from refiners listed under London Bullion Market Association (LBMA) / London Platinum and Palladium Market (LPPM) Good Delivery lists are recognised.