SINGAPORE, Dec 30: Singapore will establish a new customs unit next year to facilitate trade, the government said on Monday.
The new department, Singapore Customs, will commence operations in April next year and will be governed by the Ministry of Finance, the ministries of trade and industry and finance said in a joint statement.
“Singapore Customs will focus on trade facilitation and revenue enforcement, including trade enforcement measures related to free trade agreements,” the statement said.
The new unit will combine the revenue enforcement and trade documentation functions of the Customs and Excise Department, and the trade facilitation division and statistical audit unit of International Enterprise Singapore, the island’s trade promotion body.
The changes will put Singapore in a similar position with most countries where customs and trade enforcement functions are integrated.—AFP
