The value of the goods in the Customs permit application should be based on the corresponding trade documents (e.g. Bill of Lading, commercial invoices, packing list).

Where there is no sales transaction, the value to be indicated shall be based on the transaction value of identical or similar goods from the same country of origin that is exported at about the same time or the original price payable for the goods as if they are sold for export from Singapore, inclusive of freight and insurance charges that are incurred for the shipment.

The commercial invoice may indicate "value for Customs purpose only". For more information, you may refer to our Customs Circular No. 09/2012.