Sept. 30, 2012 3:31 pm ET
Singapore has emerged as one of the world’s hubs for private banking for the wealthy, and now it is making a play to become the Fort Knox of Asia.
Starting Monday, the Southeast Asian city-state is scrapping a 7% tax on gold and silver in an effort to turn the city into a precious-metals trading hub to rival London and Zurich, where value-added taxes don’t apply to the investment-grade gold trade.
Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8