Singapore legislation

Clause 18

Value of imported goods

(1)

For the purposes of this Act and subject to the Third Schedule, the value of imported goods shall be determined in accordance with this section.

(2)

If the goods are imported at a price in money payable as on a transfer of the property, there being no other consideration, the value is an amount equal to the price, plus (so far as not already included) —

(a)

all taxes, duties and other charges levied either outside or, by reason of importation, within Singapore (except goods and services tax); and

(b)

all costs by way of commission, packing, transport and insurance and all other costs, charges and expenses incidental to the sale and the delivery of the goods up to the port or place of importation.

(3)

Where subsection (2) does not apply, the value of the goods is their open market value as determined in accordance with any written law relating to the valuation of goods for customs purposes, plus (so far as not already included in that value) all such taxes, duties, charges and costs as are specified in subsection (2)(a) and (b) unless the Comptroller in his discretion determines that the value of the goods is an amount equal to the price as stated in the invoice plus the taxes, duties, charges and costs as specified in subsection (2)(a) and (b).

Read in full context — Goods And Services Tax Bill →