An importer would like to pay GST for an item imported under temporary import permit. Which exchange rate should be used?
You may use the prevailing exchange rates for the In-Payment (GST) permit.
Please refer here for the exchange rates listed on our website. If any component of the customs value is in a foreign currency not listed on our website, you may use the selling rate of that currency from reputable sources such as banks in Singapore, reputable news agencies or online resources to convert the value to Singapore dollars.
Related questions
Goods are temporarily imported into Singapore under INP-TCR. Importer now wants to pay for GST. What type of permit to apply?
I need to take up a short payment permit for my goods as I have under-declared the value. Which period of exchange rate should I use?
What customs value should I declare for my import permit application? The invoice shows Free on Board (FOB) incoterm.
How do I declare the exchange rate in a short payment permit application if the invoice is in foreign currency?
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