| The development of a logistics sector
with extensive networks is critical to our continued
growth as a global trade centre and hub port. To encourage
logistics operators to expand their business in Singapore
and use Singapore as a base for their operations, I
have decided to waive the GST chargeable on goods removed
by traders registered with the Major Exporter Scheme
(MES) from bonded warehouses operated by logistics companies.
With this waiver, MES traders will be able to use their
MES status to remove goods from bonded warehouses operated
by logistics companies free of GST. |
| The GST waiver will remove an existing
disadvantage faced by local logistics companies, vis-à-vis
overseas suppliers of the same goods, as under the current
situation, MES traders by virtue of their MES status
do not have to pay GST upfront when they import the
goods directly from overseas suppliers. |
