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Shipping from Cambodia to Singapore opens up opportunities for local businesses to expand their international sales. Singapore is one of Cambodia's top export partners, and its e-commerce-friendly environment, low taxes, reliable support services, and policies that encourage digital trade make it an attractive market. However, to ensure successful customs clearance in Singapore, one should be well-informed on the various taxes, tariffs, and documents required for shipping from Cambodia to Singapore.
When shipping goods to Singapore, it is important to understand the import taxes and duties involved. Singapore splits its customs procedures into two types of goods: dutiable goods and non-dutiable goods. Dutiable goods include items such as intoxicating liquor, tobacco products, motor vehicles, and petroleum products. Customs duties on these goods are based on percentages and vary from item to item. Non-dutiable goods are not subject to customs duties.
In addition to customs duties, Singapore imposes Goods and Services Tax (GST) on imported items. The current GST rate in Singapore is 8%. Payment of GST is an important requirement for customs clearance. Depending on the nature of the goods being imported, businesses may need to pay both customs duties and GST. It is important to factor these costs into pricing strategies when shipping goods from Cambodia to Singapore.
Businesses also need to pay attention to the new rules for GST chargers under the Overseas Vendor Registration regime. If businesses meet the prescribed conditions for mandatory registration of GST in Singapore, they will need to charge GST on all products sold to Singaporean customers valued at S$400 and below. Compliance with these regulations is crucial to avoid any issues during customs clearance.
Goods that are exempted from GST include:
Singapore customs maintains a list of prohibited and controlled items for import. Some examples of prohibited items include:
It is important to review and adhere to the list of prohibited items to ensure compliance with Singapore's import regulations.
To facilitate the import process, it is a requirement for businesses to register and obtain a Unique Entity Number (UEN) from Singapore customs. The UEN is required to activate the customs account and obtain the necessary customs permit. It is important to accurately fill in all details on relevant documents and ensure all necessary permits and customs regulations are followed. Without the necessary permits and correctly filled documents, delays could occur during customs clearance.
Businesses should prepare the following essential documents for import clearance in Singapore:
It is essential to ensure that all details on these documents are filled in accurately and that planning is done beforehand to avoid any issues during customs clearance.