How should the re-export trade declaration in Singapore be done? Does anyone know clearly?
Solved#Entrepot trade#
Our company intends to carry out the re-export trade business in Singapore recently. We have no relevant experience before and are not quite clear about the declaration process and precautions. I would like to ask everyone, how exactly should the re-export trade be declared in Singapore? Are there specific documents that need to be prepared? Will the declaration process be very complicated and prone to errors? I hope friends with experience can share relevant information. Thank you!
Professional consultant answers
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
When declaring the re-export trade in Singapore, first of all, it is necessary to clarify the detailed information of the goods, including the name, quantity, value, place of origin, etc. of the goods.
It is necessary to prepare commercial invoices to describe the transaction information in detail; bills of lading or air waybills to prove the transportation situation of the goods; packing lists to show the details of the goods packaging.
The declaration can be submitted online through the Singapore TradeNet (TradeNet) by submitting relevant documents and information. This platform integrates the trade management functions of multiple government departments in one stop.
When declaring, it is necessary to ensure that the information is accurate, otherwise it may lead to delays or fines. In addition, it is necessary to pay attention to the changes in Singapore's trade policies and regulations. Different products may have special declaration requirements. It is recommended to familiarize yourself with the relevant processes in advance and consult professional trade service institutions such as Zhongshitong when necessary to complete the declaration smoothly.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
Before declaring, it is necessary to confirm the HS code of the goods first. This can determine the tax rate and regulatory conditions for declaration and is crucial for accurate declaration. You can query the relevant information of the HS code through the official website of the Singapore Customs.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
Special attention should be paid to the declaration time. Generally, the declaration materials should be prepared and submitted before the goods arrive in Singapore to avoid additional costs due to untimely declaration after the goods arrive at the port.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
Singapore has strict import standards and declaration requirements for some special products, such as food, drugs, etc. When doing the re-export trade declaration of such products, it is necessary to understand their special regulations in advance.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
The re-export trade declaration involves different countries. It is necessary to pay attention to the trade agreements and rules of origin between different countries to ensure that the declaration complies with the relevant rules so as not to affect the trade process.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
After submitting the declaration information, it is necessary to track the declaration status in a timely manner. If there are problems, the TradeNet will usually prompt, and just handle them in a timely manner according to the prompts.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
For the document format, it should be prepared strictly in accordance with the requirements, such as the format of the commercial invoice, the order of the contents of the packing list, etc. Otherwise, it may be returned and required to be resubmitted.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
If multiple currencies are involved in the declaration process, they should be converted into Singapore dollars according to the exchange rate stipulated by the Singapore Customs for declaration.
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
The declaration information should be completely consistent with the actual situation of the goods. Once the customs inspection finds any inconsistency, the punishment will be very severe.