Singapore Customs Urges Registration for Trader Notification Service
Due to recent detection of cases in which freight forwarders or declaring agents declared and paid lower values on Goods & Services Tax amounts, without the importers being aware of it, Singapore Customs is encouraging all traders to sign up…
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Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
for the Trader Notification Service, a March 15 notice said. The notification service provides traders with updates on the permit number, name of declaring agent and “permit approval date when a permit with the trader's Unique Entity Number ... is approved, cancelled or amended.” Recent developments indicate that declaring agents billed their clients with falsified documents showing the higher correct GST rates, but had submitted import permits to regulators with the lower rates, pocketing the difference in the taxes paid, the notice said.