Singapore Imposes Goods and Services Tax to Low-Value Goods in Business-to-Consumer Transactions
Singapore's minister for finance announced that Goods and Services Tax will apply to imports of low-value goods for business-to-consumer transactions by extending the Overseas Vendor Registration regime starting Jan. 1, Singapore Customs said Oct. 21. Under the extended regime, Singapore…
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defines low-value goods as items that are not dutiable, not exempt from GST, located outside Singapore, are to be delivered via air or post, and have a value not exceeding the import relief threshold of around $280. The OVR vendor will need to collect GST at the point of sale and pass the information "down the logistics chain" for the relevant GST information to be made available for the import permit application, Singapore Customs said. The customs agency also outlined the procedures for importing low-value goods via air.