Singapore

Key messages

Singapore Customs makes significant attempts to familiarize importers and exporters with the requirements set forth by the current regulations. The duty free nature of the majority of products has led Singapore Customs to focus more closely on the export of Strategic Goods.

High volume importers in Singapore may wish to take advantage of one of the importing schemes that have been established by Singapore Customs to facilitate trading as well as improve cash flow.

All goods imported into and exported from Singapore must have a permit filed with Singapore Customs. These permits are filed through a system called TradeNet and all importers and exporters must either have access to this system or must contract with an agent to file requests on their behalf.

Background

Basis of Duties and Taxes

Regulated commodities

Filing an import entry

Current risks to companies

Voluntary Disclosure Program

Conditionally duty free importations

Duty drawback and bonded warehousing

Free Trade Agreements (FTAs)

Investment Incentives

Special Economic Zones

Back to Trade & Customs Homepage

Trade & Customs Contact

Kok Shang Lam
Partner

Tel: +65 6213 2596
Email: kokshanglam@kpmg.com.sg

Hwee Leng Gan
Partner

Tel: +65 6213 2813
Email: hweelenggan@kpmg.com.sg

Elaine Koh
Senior Manager

Tel: +65 6213 2212
Email: elainekoh@kpmg.com.sg

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© 2013 KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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