Singapore Online Business Rules/Regulations

sgbusiness

3 Jan 08, 00:59

Hello,

I have noticed that there is an increasing trend of online shops in Singapore where people import goods from oversea and sell them in Sg in small quantity over the net.

I am interested to sell some computers USB products.

I have a supplier willing to ship the item over to Singapore using EMS courier service.

May I know if such a small quantity is required to declare and pay tax or register business or whatsoever?

Is such doing illegal in Singapore in anyway?

Please help!..

Helpless,
New Online Store

Parka

11 Jan 08, 03:45

When you ship them in, just declare them as secondhand goods.

If your item is below $400, you don't have to pay GST.

maurizio13

11 Jan 08, 05:29

Originally posted by Parka:
When you ship them in, just declare them as secondhand goods.

If your item is below $400, you don't have to pay GST.

Dealing in secondhand goods
4. Â—(1) No person shall deal in secondhand goods except under and in accordance with the conditions of a licence issued under section 5.

(2) Any person who contravenes subsection (1) shall be guilty of an offence.

Relief on supply of certain secondhand goods
23. Â—(1) The Minister may by regulations make provision for securing a reduction of the tax chargeable on the supply of goods of such descriptions as may be specified in the regulations in cases where no tax was chargeable on a previous supply of the goods and such other conditions are satisfied as may be specified in the regulations or as may be imposed by the Comptroller.

(2) Tax chargeable on the supply of goods referred to in subsection (1) shall (unless otherwise provided in regulations made under this section) be reduced to the tax charged as if the supply of such goods was for a consideration equal to the

excess of A Â— B,
where A is the consideration for which the goods are supplied; and
B is the consideration for which the goods were acquired,

and accordingly where there is no excess, the tax shall not be charged.