Buy gold from singapore - reasons?
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why is singapore gold preferred by indians. what is the craze about it.. is it the purity or is it cheaper? if i buy gold from singapore.will i be able to sell or mortgage it in india ...show more
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Answer:
The value of gold is recognised everywhere, so I don't think there will be ever a problem when you need to sell or mortgage it. I think it is cheaper to buy gold in Singapore. There is high demand for gold by Indians, creating a trade deficit for India, and there is high import tax for gold to India, which is at 10%. Singapore does not charge any gold tax, and tourists can easily obtain a sales tax refund for goods over $100. This effectively makes any gold purchased tax-free, and therefore even cheaper.
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