The Vietnam Trade Office in Singapore has advised enterprises exporting to the country to take heed of import declarations concerning seafood, fruits, and vegetables.

According to the Trade Office, Singapore Customs recently issued an advisory reminding traders and importers to ensure absolute accuracy and completeness in import declarations for seafood, fruits, and vegetables, following recent detections of undervalued import declarations.

Over the past three years, the total shortfall in Goods and Services Tax (GST) revenue resulting from under-declarations is estimated at approximately SGD 1.4 million.

The notice emphasized that submitting incorrect declarations constitutes an offense under Singapore's Customs Act. Individuals convicted of making false or incorrect declarations under the Customs Act may face fines of up to SGD 10,000 (approximately USD 7,700), or an amount equivalent to the payable customs duty and GST combined—whichever is higher—and/or imprisonment for up to 12 months.

Singapore Customs also recommended that traders and importers conduct retroactive audits of past import transactions to ascertain whether any GST payment shortfalls occurred. In cases where inaccurate declarations were filed, traders and declaring agents are encouraged to step forward and submit voluntary disclosures to Singapore Customs.

The Vietnam Trade Office in Singapore cautioned that Vietnamese exporters should proactively communicate and consult in advance with Singaporean importers regarding the requirement to declare true transactional values for seafood, fruits, and vegetables, while strictly complying with relevant import licensing, phytosanitary, and food safety regulations.

“Strict adherence to regulatory requirements helps mitigate the risks of customs clearance delays and unexpected costs during the export process,” the Trade Office emphasized.

Singapore is a major trading partner of Vietnam, with Singaporean imports of Vietnamese goods expanding noticeably in recent times. Singapore is also an exacting market; domestic exporters must therefore thoroughly research local regulations to ensure sustainable trade flows.

Source: An ninh Thu do