The customs agency of Singapore said that effective January 1, 2017, goods for processing (GFP) are required to be explicitly identified and reported in all import and export permit applications.
The information is required by the Department of Statistics for the compilation of Singapore’s international trade statistics and balance of payments statistics in accordance with international statistical standards, ensuring their international comparability.
GFP refers to the goods that undergo processing activities such as manufacturing, assembly, labelling and packing of goods, oil refining, and liquefaction of natural gas, and are comprised of materials owned by the principal that are sent to another company for processing (i.e. goods before processing), and finished goods, which continue to be owned by the principal (i.e. goods after processing).
“The materials can be supplied from the country of the company, the country of the principal and/or a third-party country. Similarly, the finished goods can either be dispatched or sold to the country of the company, the country of the principal and/or a third party country,” said Singapore Customs.
For declaring the GFP requirements in the TradeNet® permit applications, Singapore Customs said it is necessary to identify whether the goods are processed in or outside Singapore.
“Goods’ movements will need to be identified and declared accordingly as ‘GFP’ and GFP Code ‘1’, ‘2’ or ‘3’, in the existing TradeNet® fields ‘CA/SC Product Code’ and ‘CA/SC Code 1’, respectively,” said Ivy Chong, head of procedures.
For goods not associated with processing, there is no change to current declaration procedures. No additional declaration is required if the goods are not exported or imported for processing.
Declarations for CO
At the same time, the agency has released an advisory on Tradenet® declarations for certificate of origin (CO).
Circular No: 13/2016 highlights the requirements for selected TradeNet® declaration fields for CO applications with Singapore Customs to be complied by all CO applicants from January 1, 2017.
The circular is to be read with the updated “Handbook on Application Procedures for a Certificate of Origin via TradeNet® and Related Administrative Matters,” which is available via the Singapore Customs website.
Photo: Hsing Wei – fragile
