Ultimate Guide to the Singapore Import Tax for 2024

Is There Any Import Tax in Singapore?

Yes, there are import taxes in Singapore. All goods imported into Singapore carry a Goods and Services Tax, and many also have an excise duty.

• Goods and Services Tax (GST): This is a flat rate of 8% applied to the Customs value of all imported goods, regardless of origin. As of January 1, 2023, GST applies to all imported goods, including those valued below S$400.
• Excise duty: An additional tax levied on specific goods, such as alcoholic beverages, tobacco products, motor vehicles, and petroleum products. The rate of excise duty varies depending on the type of good.

Here is a table summarizing the import taxes in Singapore:

Note: This table is not exhaustive and may not include all dutiable goods. Please refer to the Singapore Customs website for a complete list of dutiable goods and their respective rates.

Here are some additional resources that you may find helpful:

• Singapore Customs – Duties and Dutiable Goods: https://customs.gov.sg/businesses/valuation-duties-taxes-and-fees/duties-and-dutiable-goods/
• Singapore Customs – Goods and Services Tax (GST): https://customs.gov.sg/businesses/importing-goods/import-procedures/

How Much is Import Tax to Singapore

The import tax to Singapore is called the Goods and Services Tax (GST), which is an ad valorem tax of 8% applied to the value of most goods imported into Singapore. The GST is calculated based on the Cost, Insurance and Freight (CIF) value of the goods, which includes the cost of the goods, the cost of insurance, and the cost of freight.

For example, if you are importing a pair of shoes that costs S$100, the CIF value would be S$110 (S$100 for the shoes, plus S$10 for the cost of insurance and freight). The GST on the shoes would be 8% of S$110, or S$8.80.

There are some exemptions from GST, such as for specific food items, medical supplies, and educational materials. You can find a list of all GST exemptions on the Singapore Customs website.

In addition to GST, there may also be other taxes or duties applicable to your goods, such as excise duty for tobacco and alcohol products or customs duty for certain types of goods. More information about these taxes and duties is on the Singapore Customs website.

From 1 January 2023, GST is extended to goods imported via air or post that are valued up to and including the current GST import relief threshold of S$400 through the Overseas Vendor Registration regime. This means that if you are importing goods valued at S$400 or less, you will still need to pay GST, even if you buy them from an overseas vendor.

Here is a table summarizing the import tax to Singapore:

Please note that the information provided here is for general purposes only and should not be construed as tax advice. You should always consult with a qualified tax advisor to get specific advice for your situation.

What is the Import Tax for Goods $400 Or Less in 2023

Effective January 1st, 2023, the Singapore government implemented new regulations regarding the Goods and Services Tax (GST) for imported goods. Here’s a summary of the changes:

Removal of GST relief threshold:

• Previously, goods valued at $400 or less (CIF value) imported via air or post were exempt from GST. This was known as the GST relief threshold.
• As of 2023, this threshold has been removed.

Application of GST to all imported goods:

• All goods imported via air or post, regardless of value, are now subject to GST.

Collection of GST by overseas vendor:

• Overseas vendors registered for GST in Singapore must collect the GST at the point of sale.
• This means consumers will pay the GST directly to the vendor when purchasing.
• No additional import tax will be due at the point of entry for goods purchased from such vendors.

Import tax for goods where the overseas vendor does not collect GST:

• If the overseas vendor is not registered for GST in Singapore or does not collect the GST at the point of sale, the importer will be responsible for paying the GST at the point of entry.
• The current GST rate in Singapore is 9% (as of December 2023).

Here’s an example:

• You purchase a $400 item online from a foreign vendor not registered for GST in Singapore.
• No GST is collected at checkout.
• Upon arrival in Singapore, you will be responsible for paying $36 (9% of $400) in GST at entry.

Additional resources:

• Singapore Customs website: https://m.customs.gov.sg/

Is Singapore Import Tax-Free

What is GST Exempt in Singapore

A range of goods and services are exempt from GST in Singapore. These exemptions are provided to ensure that essential items and services are accessible to all Singaporeans and to support specific industries and sectors. Here’s a list of some of the common goods and services that are GST-exempt:

Essential Goods and Services:

• Food and beverages: Most food items, including fresh produce, meat, seafood, packaged foods, and drinks, are GST-exempt.

• Medicine and medical supplies: All prescription and over-the-counter drugs and medical devices and equipment are exempt from GST.

• Educational materials: Textbooks, stationery, and other educational supplies are exempt from GST to support learning and knowledge acquisition.

• Books: Books, magazines, and newspapers are GST-exempt to encourage reading and knowledge sharing.

• Religious and charitable items: Religious books, artefacts, and charitable donations are exempt from GST to support these important causes.

Certain Goods and Services:

• Certain types of clothing and footwear: Basic clothing and footwear items, such as underwear, socks, and essential outerwear, are exempt from GST to provide affordable options for everyone.

• Transport services: Public bus transport, taxis, and MRT rides are GST-exempt to encourage public transportation usage.

• Public housing services: Charges for basic amenities in public housing flats are GST-exempt to ensure affordable housing for Singaporeans.

• Financial services: Certain financial services, such as life insurance premiums and essential banking services, are GST-exempt to support financial stability and inclusion.

• Investment precious metals: The importation and local supply of investment precious metals, such as gold, silver, and platinum, are GST-exempt to support the gold refining and trading cluster in Singapore.

It’s important to note that these are just some of the standard GST exemptions in Singapore. Please refer to the Inland Revenue Authority of Singapore (IRAS) website for a comprehensive list of all GST-exempt goods and services.

What is the Customs Tax in Singapore and Malaysia

Singapore and Malaysia have different customs tax regulations for goods imported into their respective countries. Here’s a breakdown of the customs tax in each country:

Singapore

• Goods and Services Tax (GST): An ad valorem tax of 8% applied to the value of most goods imported into Singapore. The GST is calculated based on the goods’ Cost, Insurance, and Freight (CIF) value.

• Exceptions to GST: Certain goods are exempted from GST, such as food items, medical supplies, and educational materials.

• Additional taxes and duties: In addition to GST, there may also be other taxes or duties applicable to your goods, such as excise duty for tobacco and alcohol products or customs duty for certain types of goods.

Malaysia

• Sales and Service Tax (SST): An ad valorem tax of 10% applied to the value of most goods imported into Malaysia. The SST is calculated based on the goods’ Cost, Insurance, and Freight (CIF) value.

• Exemptions to SST: Certain goods are exempted from SST, such as food items, medical supplies, and educational materials.

• Additional taxes and duties: In addition to SST, there may also be other taxes or duties applicable to your goods, such as excise duty for tobacco and alcohol products or customs duty for certain types of goods.

Comparison of Customs Tax in Singapore and Malaysia

General Guidelines for Importing Goods into Singapore and Malaysia

• Declare all dutiable goods: When entering Singapore or Malaysia, you must declare all dutiable goods in your possession, regardless of their value.

• Obtain a customs permit: If you are importing goods subject to customs duty or taxes, you must obtain a customs permit from the relevant authorities.

• Pay customs duty and taxes: You must pay customs duty and taxes on all dutiable goods. The amount of duty and taxes payable will depend on the type of goods, their value, and their country of origin.

Additional Resources

• Singapore Customs: https://customs.gov.sg/
• Royal Malaysian Customs Department: http://www.customs.gov.my/en