SINGAPORE. The Singapore Government has agreed to grant a special concession* on liquor and tobacco products destined for the TFWA Asia Pacific exhibition in Singapore next week.
The agreement, which follows representation by TFWA on behalf of liquor and tobacco exhibitors, will mean a welcome reduction in costs for those companies.
TFWA explained: “In the past, liquor and tobacco products were treated as permanent imports and were subject to the payment of duty and GST at the point of importation. Under the new provision, these items are now awarded “˜temporary import status’. Duty and GST will be temporarily suspended on arrival in Singapore or extraction from a local licensed warehouse.
“At the end of the exhibition, which runs from 15th to 18th May in the Singapore Suntec Centre, duty and GST will be collected based on the quantity consumed or given away. The unused quantity that is re-exported out of Singapore or returned to the licensed warehouse will be duty/tax-exempt.”
TFWA said that discussions with Singapore Customs commenced last year and, given the “sensitive” nature of the matter, the request was for a concession in 2008 only. However, TFWA noted, “In typical pro-business fashion, the Singapore Government decided to grant the approval commencing this year”.
The association’s statement continued: “TFWA communicated the good news to all liquor and tobacco exhibitors as soon as the information was received from the authorities in the hope that they would be able to participate in the “˜temporary import scheme’ for TFWA Asia Pacific 2007 even at this late stage.”
In any event, the special concession will apply to liquor and tobacco products being supplied to TFWA Asia Pacific 2008, which will be welcomed by exhibitors, TFWA concluded.
NOTE: Meanwhile the ‘real’ liquor & tobacco concession in Singapore – covering the operations at all Singapore Changi Airport terminals – is due to be awarded around mid-month, according to Civil Aviation Authority of Singapore.
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