NEW CASH TRANSACTIONS REQUIREMENT
Dear Clients, please be informed that there is a new requirement regarding cash transactions by the Singapore Government with effect from 15th October 2014.
Under the amended Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, the Precious Stones and Metals Dealers (PSMDs) are required to submit a Cash Transaction Report (CTR) to the Suspicious Transaction Reporting Office (STRO) when conducting any cash transaction with a value, or any 2 or more related cash transactions in a single day with a total value, that exceeds SGD 20,000 (or its equivalent in foreign currency), with a customer for the sale of any precious stone, precious metal or precious product. This requirement is part of Singapore's overall effort to combat money laundering and terrorism financing.
Please click here to access the Brochure for PSMDs.
GST TAX AMENDMENT
Dear Clients, please be informed that IRAS has imposed tax charges on the Pamp Lunar Series with immediate effect.
Please refer to Clause 4.5 under the Guide on Investment Precious Metals (second edition) for more details. The link is shown below.
REVISED UOB INSTALMENT RATES
Effective 1 October 2013, UOB Instalment plan* will be revised accordingly:
6 - Month - 2.3%
12 - Month - 3.3%
24 - Month - 4.3%
* Terms and conditions apply
Monday - Friday, 10am to 5.45pm
Saturday, 10am - 12.45pm
Dear valued customers, if you wish to purchase more than 600 ounces of silver bullion or 16 ounces of gold bullion, please drop us a line or visit us at our office and we will be more than happy to serve you.