What is the strategic intent of the temporary removal of duty-suspended goods in licensed warehouse?
The intent of the temporary removal of duty-suspended goods from a licensed warehouse is to provide flexibility and operational efficiency for businesses while maintaining customs control. This facilitation is designed to promote specialized storage facilities, as well as facilitate auctions and exhibitions in Singapore. It allows businesses to conduct necessary operations, quality control, or showcase products without incurring immediate duty liability, thereby enhancing Singapore's attractiveness as a business and logistics hub.
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