MAS Launches Gold Custody Services and Plans to Expand GST Exemption
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On November 11, 2026, Fintech News Singapore reported that the Monetary Authority of Singapore (MAS) has launched gold custody services for foreign central banks, international financial institutions, and sovereign entities. The gold will be held in a local-currency vault in Singapore with a capacity of up to 500 tonnes; MAS will also provide gold custody accounts to selected Singapore bullion banks. On tax matters, MAS and the Singapore Ministry of Finance plan to expand the Goods and Services Tax (GST) exemption to cover designated wholesale precious metals services between institutions covered by the framework. The exemption is expected to take effect in April 2027. The report did not provide the service launch date or further implementation details.
AI-written from reports · updated 1 hour ago
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- Fintech News SingaporeMAS launches gold custody services and expands GST exemption for wholesale gold
MAS has launched gold custody services for foreign central banks, international financial institutions, and sovereign entities, with gold held in a local vault in Singapore. The vault has a capacity of up to 500 tonnes, and MAS will also provide gold custody accounts to selected bullion banks in Singapore. MAS and the Ministry of Finance plan to extend the GST exemption to designated wholesale precious metals services between institutions covered by the framework, with the change expected to take effect in April 2027.
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