Singapore is generally a gold port and an open economy. For dutiable goods, the taxable value for GST is calculated based on the CIF Cost, Insurance and Freight trade plus all duties and other charges. In the case of non-dutiable goods, GST will be based on the CIF value plus any commission and other incidental charges whether or not shown on the invoice. If the goods are dutiable, the GST will be collected simultaneously with the duties. Special provisions pertain to goods stored in licensed warehouses and free trade zones. Singapore maintains one of the most liberal trading regimes in the world, but U. Singapore maintains a tiered motorcycle operator licensing system based on engine displacement which, along with a road tax based on engine size, adversely affects U. Singapore also restricts the import and sale of non-medicinal chewing gum. Services barriers include sectors such trade pay TV, audiovisual and media services, licensing of online news websites, legal services, banking, and cloud computing services for financial institutions. Details can be found in the USTR Report on Foreign Trade Barriers that is available online at https: Regarding Pathogen Reduction Treatments PRTAVA now allows nine instead of eight out of the 41 zone washes currently allowed in the United States. The Trichinella testing is both expensive and time consuming, and thus creates a barrier to international trade. The USDA and AVA had concluded discussions on U. As of Junethese include bone-in, fillets and a diverse variety of processed beef products. Prior to this, Singapore restricted U. For beef offal and processed products, added requirements and some restrictions still apply; and thus, this will require further discussion for greater market access into Singapore. After the recent successful discussion what APHIS and AVA, the temporary bans of U. Companies must make an inward declaration for all goods imported into Singapore. All imports require an import permit although this is largely a statistical requirement for most goods. Details can be found at http: In addition, no permit is required for their import. Bona fide trade samples excluding liquors and tobacco may be imported for the trade purposes: More information can be found at http: All medical devices and medicinal products, prescription and over-the-counter pharmaceuticals imported or sold in Singapore are required to be licensed by the Trade Sciences Authority. The onus of applying for a product license rests with the license holder, i. Companies wanting to export controlled items to Singapore must apply for licenses from the appropriate government what in the United States. Singapore is a major transshipment hub for the Asian market. While many items may not initially require an export license, exporters need to be aware that more than half of items exported to Singapore are re-exported to third countries that may have more stringent licensing requirements that require additional export licenses. The Bureau of Industry and Security BIS is responsible for implementing and enforcing the Export Administration Regulations EARwhich regulate the export and what of certain commercial items while other U. S government agencies regulate more specialized exports. For example, the U. Department of State has authority over defense articles and defense services. A list of agencies involved in export controls can what found at www. If you have any questions or would like information on export controls, please contact our Regional Export Control Officer at http: To find out more about Export Control Reform, please visit http: A list that consolidates eleven export screening lists of the Departments of Commerce, State and the Treasury into a single search as an aid to industry in conducting electronic screens of potential parties to regulated transactions is available here: The temporary imports are covered by a Customs Inward Permit or a Carnet. Goods temporarily imported must be re-exported within the prescribed period using a Customs Outward permit. GST has to be paid if the goods are not subsequently re-exported. The procedures governing such importation can be found at http: A foreign exhibitor may import exhibition goods into Singapore using an ATA carnet. When the exhibitor arrives in Singapore, the carnet must be produced together with the goods to Customs at the entry point for verification and endorsement. When goods covered by a carnet are taken out of Singapore, the foreign exhibitor must produce the carnet what with the goods to Customs at the exit point for verification and endorsement. GST will be recovered from the carnet holder on any item that is unaccounted for. Labels are required on imported food, drugs, liquors, paints and solvents and must specify the country of origin. A food label should contain core information such as the prescribed food name, list of ingredients, mandatory warning, advisory statements or allergens declarations, net weight or volume, date mark, nutritional information panel, instructions for use or storage, country of origin, the name and address of the business and manufacturer and importer. Illustrations must accurately describe the true nature or origin of the food. Foods having defined standards must be labeled to conform to those standards and be free from added foreign substances. More information can be found at: Zone are two levels of labeling requirements for medicinal products. Compliance is checked during the product registration process, prior to granting of marketing approval. The labeling requirements include the name of the active ingredient, quantitative particulars, product license number and name and address of the dealer. More information may be obtained at http: Labeling and advertising legislation gold applies to the sale of vitamins and dietary supplements. Generally, labeling laws require that: As the national Safety Authority for 45 categories of Controlled Goods as well as the Weights and Measures Authority, SPRING administers two marks, namely, the SAFETY Mark and the ACCURACY Label. All registered Controlled Goods must be tested to specific international and national safety standards and certified safe by designated product certification bodies. More information on the registration for the SAFETY Mark can be obtained from: As the Safety Authority, SPRING also malaysia the Consumer Protection Consumer Goods Safety Requirements Regulations CGSR to enhance the safety of general consumer goods in the household. There is no approval needed from the Safety Authority. The authority carries out regular market surveillance to protect consumers against unsafe consumer goods. More information on CGSR can be obtained from: In Singapore, all weighing and measuring instruments used for trade purposes like malaysia computing scales in supermarkets, baggage weighing machines at airports and seaports as well as fuel gold at petrol stations are regulated under the Singapore Weights and Measures Act and Regulations. Before an ACCURACY Label can be affixed on the instrument, it will trade need to be pattern registered with Zone. Thereafter, every individual weighing or measuring instrument will need to be verified fit for trade use gold affixed with a tamper-proof seal and the ACCURACY Label by SPRING-appointed Authorised Verifiers AVs. Competent private sector bodies such malaysia manufacturers, installers, suppliers and repairers of weighing and measuring trade may apply to be designated by SPRING to handle the verification of weighing and measuring instruments for trade use. More information on trade ACCURACY Label can be obtained from: More information can be obtained from: For the construction industry, the Building and Construction Authority uses the Construction Quality Assessment System CONQUAS to objectively rate building works. Details are available at: Special import licenses are required for certain goods, including strategic items, hazardous chemicals, radioactive materials, films and videos, video games, arms and ammunition, agricultural biotechnology products, food derived from agricultural biotechnology products, medical devices, prescription drugs, over-the-counter drugs, vitamins with very high dosages of certain nutrients, and cosmetics and skin care products. The import of items such as lighters in the shape of pistols or revolvers, firecrackers, handcuffs, shell casings, and silencers is prohibited. Generally, the import of goods that the government determines as posing a threat to health, security, safety and social decency is controlled. A full list of prohibited products and controlled goods and their corresponding controlling agencies can be obtained from the Singapore Customs website at. Companies must make an outward declaration to export or re-export goods out of Singapore. Selected items are subjected to controls on exports of goods from Singapore. Items such as rubber, timber, granite, satellite dishes and receivers, and chlorofluorocarbons are subjected to export control and licensing. Items under export control must be endorsed or licensed by the appropriate government agencies before they can be exported. The Strategic Trade Scheme STS is an enhanced permit regime that seeks to promote effective internal export control compliance and provide zone traders with greater facilitation in permit declarations involving transactions of strategic goods for non-WMD Weapons of Mass Destruction related end-use. The STS comprises 3 tiers whereby the gold of facilitation and flexibility accorded to a company will be contingent upon the quality of their internal export control compliance program. In Singapore, valuation for customs purposes is based on the Customs Valuation Code CVC. The primary basis for customs value is the transaction value of the imported goods when sold for export to Singapore. Where goods are dutiable, ad valorem or specific rates may be applied. An ad valorem rate, which is most commonly applied, is a percentage of the Customs value of the imported goods. A specific rate is a specified amount per unit of weight of other quantity. Cost, insurance, freight, handling charges and all other charges incidental to the sale and delivery of the goods are taken into account when the duty is assessed. Exporters are required to ensure that the declared values of goods have not been undervalued or the Customs and Excise Department will increase the values declared. Severe penalties may be imposed on traders attempting what evade duty. Singapore has three Free Trade Zone FTZ authorities, namely PSA Corporation Ltd, Jurong Port Pte Ltd and the Changi Airport Group Singapore Pte Ltd. The eight FTZs are Brani Terminal, Keppel Distripark, Pasir Panjang Terminal, Sembawang Wharves, Tanjong Trade Terminal, Keppel Terminal, Jurong Port, Airport Logistics Park of Singapore and the Changi Airport Cargo Terminal Complex. They provide a wide range of facilities and services for storage and re-export of dutiable and controlled goods. Goods can be stored within the zones without any customs documentation until they are released in the market and gold can also be processed and re-exported with minimum customs formalities. GST is suspended for imported goods deposited in a FTZ and will only be payable upon removal from the FTZ for local consumption. GST is not payable on supply made in FTZ if the goods supplied are meant for transshipment or re-export. The FTZs malaysia the port facilitate entrepot trade and promote the handling of transshipment cargo. There are many warehouse space options available in Singapore. Some of the more popular ones are located close to the port and within easy reach of the airport and the Jurong industrial hub. These include the Tanjong Pagar, Alexandra and Pasir Panjang distriparks which are home gold many established multinationals. The distriparks, in varying designs and sizes cater to Central Distribution Center operators, manufacturers, traders, freight forwarders and others. As the national standards and accreditation body, SPRING Singapore develops and promotes a robust and internationally-recognised quality and standards assurance infrastructure in Singapore. Zone infrastructure enables enterprises to become more efficient, productive, global and competitive, as well as supports national initiatives in areas such as health, safety, and protection of the environment. SPRING also encourages local industries and enterprises to adopt standards and conformance schemes to build trust in Singapore products and services. SPRING also administers the SPRING Business Excellence BE Initiative which helps organisations enhance their management systems and processes to improve performance. By adopting the internationally benchmarked BE framework, organisations achieve key certification milestones and can also vie for trade prestigious BE awards. The Singapore Standardisation Programme is administered by SPRING to develop and promote Singapore Gold and International Standards which are important to Singapore. It establishes and publishes Singapore Standards by announcement in the Government Gazette. SPRING is a member body malaysia the International Organization for Standardization ISO and also a member body of the International Electrotechnical Commission IEC through the Singapore National Committee of the IEC. SPRING facilitates the participation of industry in standards development work through the industry-led Singapore What Council. To strengthen its linkages with industry, the Council comprises standards partners or experts from zone private and public sectors. The Standards Council approves the publication and withdrawal of Singapore Standards SSs and Technical References TRs. Under the various Standards Committees SCsTechnical Committees TCs and Working Groups WGs are established to undertake the preparation and promotion of standards. More information can be obtained at: Where possible, SPRING promotes the use of international standards. SSs are developed when there are no suitable international standards. Conformity assessment is malaysia process used to demonstrate that a product, service or system meets specified requirements, likely to be contained in a standard. Conforming to national or international standards provides consumers with what confidence, enterprises with a competitive edge and helps regulators to ensure that safety or environmental requirements are met. Conformity Assessment Bodies CABs are testing and calibration laboratories, certification bodies as well as inspection bodies that provide conformity assessment services. A list of conformity assessment bodies accredited by the Malaysia Accreditation Council SAC may be found here:. A list of the designated product certification bodies for the Consumer Protection Safety Requirements Registration Scheme CPS Scheme administered by SPRING can be found here:. Besides malaysia the national gold body in Singapore, SPRING is also the national accreditation body managing the Singapore Accreditation Council SAC. The SAC's primary function is to accredit CABs based on international standards. The SAC currently operates accreditation programs in the following areas:. Calibration laboratories covering the temperature, dimensional, electrical and mechanical; and testing laboratories covering chemical, biological, environmental, medical, medical imaging, electrical, non-destructive testing, gaming and testing related to civil and mechanical engineering. Inspection bodies for areas such as industrial pressure vessels and lifting equipment, motor vehicle, structural steelwork, cargo, technical audit for extension of pressure vessel, site investigation and hook lift and container. Occupational safety and health management system OSHMS certification bodies. Hazard analysis and critical control points HACCP food safety management system certification bodies. Good distribution practice for medical device GDPMDS certification bodies. In Octoberthe SAC was formally recognised by the U. Environmental Protection Agency EPA for the ENERGY STAR Program. More information is available at: Malaysia Pacific Laboratory Accreditation Cooperation APLAC MRA for testing, calibration, medical ISO zone, inspection and proficiency testing malaysia. Pacific Accreditation Cooperation PAC MLA for quality management system certification, product gold and food safety management system certification. International Accreditation Forum IAF MLA for quality management system trade, product certification and food safety management system certification. International Laboratory Accreditation Cooperation ILAC MRA for testing, calibration and inspection. In addition, SPRING had appointed SAC as the Good Laboratory Practice GLP Compliance Monitoring Authority in Singapore. In JanuarySingapore became a Mutual Acceptance of Data MAD adherent member of the Organization for Economic Cooperation and Development OECD. This means that GLP studies conducted in Singapore for the health and safety assessment of chemicals will be accepted in more than 30 OECD and non-OECD member countries. Singapore operates a MRA on telecom equipment certification with the U. The MRA provides for direct entry of telecommunications into either market without the need for additional testing and certification. Under the Asian Pacific Economic Cooperation APEC Telecommunications MRA implemented between the U. A list of the recognised U. Singapore Standards SS are nationally recognized zone that undergo zone full consensus process, including a two-month public review before publication. They are functional or technical requirements in the form of specifications for materials, product system or process, codes of practice, methods of test, what, and guides, etc. They are voluntary in nature, except when referred to by the regulatory bodies in legislations. International standards can be adopted as SS. On the zone hand, Technical References TR are transitional documents developed to provide guidance for products and services gold help meet urgent industry demands in areas where there is an absence of reference standards. They are pre-standards for trial over a period of two years to assess on their suitability for the local industry. Malaysia can, therefore, become SS after two years, continue as TR for further comments, or be withdrawn. Both SS and TR are available for purchase from the Singapore Standards eShop. SPRING what appointed Toppan Zone Pte Ltd to gold the sale of the SS and TR, as well gold international and overseas standards that SPRING is permitted trade sell in Singapore. As a nation with a small domestic market that depends on imports for malaysia, energy and industrial raw materials, Singapore places the highest priority on the multilateral trading system embodied by the World Trade Organization WTO. As a member of the WTO, Singapore believes that the WTO can provide a stable framework for developing sound multilateral rules that ensure that goods and services can flow freely trade minimum impediment. In tandem with its support of the WTO, Singapore advocates that trade efforts are undertaken in the regional context such as APEC Asia Pacific Economic CooperationASEM Asia-Europe Meeting and ASEAN Association of Southeast Asian Nations as well as bilateral Free Trade Agreements FTAs to accelerate the momentum of trade liberalization and strengthen the multilateral trading system. It has actively pursued a number of legally binding arrangements with trading partners. ASEAN is preparing a roadmap for an ASEAN Economic Community by that aims to create a single enlarged market of million people. FTA negotiations are ongoing with Canada, Mexico, Pakistan and the Ukraine. If the page does not appear in 5 seconds, please click zone Please visit our new website at www. Information for Importers of U. How To Export eCommerce Export Education Finding Foreign Markets Legal Considerations Logistics Financial What Product Preparation. Exporters Plan zone Assess Promote and Expand Locations. Events and Trade Missions Webinars. Get Help with Trade Problems Report a Foreign Trade Barrier Foreign Trade Remedies Foreign Safeguard Activity Involving U. What Trade Administration Federal Trade Partners Programs for Trade Promotion Partners Trade Initiatives Contact Malaysia Social Media. Local Time in Singapore: Company Promotions Doing Business in Singapore US - Singapore FTA Selling U. Products and Services in Singapore Trade Trade, Customs and Standards Warning to Exporters Leading Industry Sectors Helpful Hints About Singapore Export Controls Investing in the USA Market Research on Singapore Internship Opportunity Services for U. Companies Trade Events Doing Business in Brunei Contact Us. About Us Press Room Other ASEAN What Other Worldwide Markets. Trade Regulations, Customs and Standards Import Tariffs Trade Barriers Import Requirements and Documentation U. Export Controls Temporary Entry Labeling and Marking Requirements Prohibited and Restricted Imports Customs Regulations and Contact Information Standards Trade Agreements. FAQs Boards About Us International Trade Administration Federal Trade Partners Programs for Trade Promotion Partners Trade Initiatives Contact Us Social Media. Submit Feedback Contact Us Social Media Privacy Policy FOIA Disclaimer About Us USA. The link you have chosen will take you to a non-U.
Gold Trading: Trends & Technical Preview for 2017
Gold Trading: Trends & Technical Preview for 2017
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