Gold bullion traders hoping for GST exemption

Gold demand in Singapore in 1993 was at 21.4 tonnes and in Malaysia it stood at 22.4 tonnes. Six years after Singapore implemented the GST in in 1994,and Singapore only recorded 12.1 tonnes while Malaysia raked up 21.1 tonnes - Reuters Photo.

KUALA LUMPUR: A gold bullion trading company, Nubex Sdn Bhd, is hoping the government will consider exempting investment in precious metals (IPM) from the Goods and Services Tax (GST) when the Budget 2015 is tabled on Oct 10.

CEO Mohd Faizal Mohd Nor said Malaysia had to date not imposed any form of tax on IPM.