Singapore Has Golden Ambitions

Singapore has emerged as one of many world’s hubs for personal banking for the rich, and now it’s making a play to change into the Fort Knox of Asia.

Beginning Monday, the Southeast Asian city-state is scrapping a 7% tax on gold and silver in an effort to show town right into a precious-metals buying and selling hub to rival London and Zurich, the place value-added taxes do not apply to the investment-grade gold commerce.

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