Is it compulsory to submit security renewal?
To facilitate the import of duty and/or GST suspended goods into Singapore, Declaring Entities, or their appointed Declaring Agents are required to furnish security for various scenarios,
• Temporary importation of goods for approved purposes
• Movements involving dutiable goods not under temporary import
• Operation of licensed premises such as licensed warehouses and excise factories
• Compliance with the regulatory requirements of Singapore Customs
• Revenue protection purposes
For more information on Security Lodgement, please click here.
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