Are you a GST - Registered Exporter?
Tap on the Major Exporter Scheme(MES)
Major exporters can improve their cash flow by deferring Goods and Services Tax
(GST) on goods imported mainly for re-export.
MES is a scheme whereby approved GST-registered persons can import goods without
paying GST at the point of importation. MES traders will be allowed to import non-dutiable
goods without paying GST to Singapore Customs (SC).
However, if the goods are subsequently sold to the local market, the GST-registered persons
are required to collect GST. MES traders who export their goods subsequently will thus not
face cash flow problems on their imports.
Without MES, exporters have to pay GST when the goods are imported and subsequently
claim GST back from the Inland Revenue Authority of Singapore (IRAS).
A Major Exporter is a person (company/ partnership/ sole proprietorship etc.) who, in the
course of its business, import goods substantially into Singapore and at the same time, will
export goods substantially to overseas.
MES status is given to exporters for up to a period of 3 years. Renewal is subject to approval.
Qualifying Conditions For MES:
The zero-rated supplies must account for more than 50% of the total supplies or the
value of your zero-rated supplies is more than S$10 million for the past 12 months.
A letter of guarantee from a bank or an insurance company may be required before
the grant approval.
You can only use the scheme to import goods or remove goods from a Zero GST
warehouse where the goods are owned by you or your overseas principal.
You are also required to maintain the following:

Good internal controls and proper accounting records.

Good compliance records with IRAS and SC.
TO FIND OUT MORE DETAILS ON YOUR ELIGIBLITY & HOW TO APPLY,
PLEASE CONTACT YOUR EDC@SICCI NOW!
Call us @ 6508-0147 or Send us an e-mail to edc@edc-sicci.sg