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Overview of TradeNet®
Overview of TradeNet®
SC’s Trade Facilitation
SC’s Trade Facilitation
Welcome To
Welcome To
Singapore Customs
Singapore Customs
27 Jul 2007
27 Jul 2007
Outline
Outline
Objectives of trade declarations
Current TradeNet®
New TradeNet®
© 2007 Singapore Customs. All Rights Reserved.
Page 2
Objectives of Trade Declarations
Objectives of Trade Declarations
1. Enforce controls laid down by
domestic policies and
international agreements
2. Collect GST and Customs duties
3. Collect trade statistics
© 2007 Singapore Customs. All Rights Reserved.
Page 3
Permit Requirement
Permit Requirement
A Permit is required for every:
Import
Export
Transhipment
Movement between FTZs or from
licensed premises
© 2007 Singapore Customs. All Rights Reserved.
Page 4
Customs Tax Regime
Customs Tax Regime
Customs Duty
Excise Duty
Goods and Services Tax
© 2007 Singapore Customs. All Rights Reserved.
Page 5
Goods and Services Tax (GST)
Goods and Services Tax (GST)
Implemented on 1 Apr 1994
Current rate: 7% wef 1 Jul 2007
Collection of GST on imported goods
and locally manufactured goods which
are subject to excise duty.
© 2007 Singapore Customs. All Rights Reserved.
Page 6
®
Prior to TradeN
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