What is Custom Clearing Procedure?
They are procedures that needs to be followed when it comes to importing or exporting any good.
Disclaimer: For the purpose of this article, I will use Singapore as an example of how the custom clearing procedure works.
Before I begin, I must clarify that there are 2 broad categories of goods that are imported or exported out of every country, namely:
- Controlled/dutiable goods
- Non-controlled/dutiable goods
What are the Custom Clearing Procedures for Imports?
In general, for imports, duties fees are usually applicable for controlled goods. In addition, countries, like Singapore, may slap on additional taxes for imports such as the Goods and Services Tax (GST) on all imports being sold and consumed within the country.
What are the Custom Clearing Procedures for Exports?
In general for exports out of Singapore, there will be no GST taxes levied.
Why choose M&P International Freight?
M&P International Freight is a one-stop shipping solutions company located in Singapore who primed and ready to meet the transportation needs of international clientele.