Singapore: Updates to the revised Free Trade Zones (FTZ) regime
Date of publication: July 30th, 2024
On July 03, 2024, the Singapore Customs issued a circular: Circular No: 03/2024 to provide some updates on the implementation of the revised Free Trade Zones (FTZ) Regime together with the previous one Circular No: 02/2024 dated on 28 February 2024.
1. What are key changes in policy?
1. Adjustment period for submission of Bill of Landing (BL) data:
- Jurong Port Pte Ltd (JP):
- Non-Containerised Cargo: Adjustment period ends on 31 August 2024.
- Containerised Cargo: Adjustment period extended to 31 March 2025.
- PSA Corporation Ltd (PSA):
- Containerised Cargo: Adjustment period ends on 31 August 2024.
- Non-Containerised Cargo: Adjustment period extended to 31 March 2025.
2. BL data requirements:
- Mandatory fields for all cargo: Voyage number, BL number, Shipper Name & Address, Cargo Description, Goods Weight, Goods Quantity.
- Additional fields applicable if present in BL: Container Number(s), Place of Receipt, Place of Delivery, Consignee Name & Address, Notify Party Name & Address, HS Code.
2. Entity responsibilities
1. Shipping agents:
- Submit specified BL data to JP and PSA within the respective adjustment periods.
- Ensure accuracy and timeliness of data submission.
- Amend BL data if necessary, no later than the vessel’s berthing time for inward cargo and 24 hours after departure for outward cargo.
- Work with shippers and customers to ensure timely submission of relevant BL data.
2. FTZ cargo handlers (JP and PSA):
- Collect and transmit BL data to Singapore Customs.
- Provide means for shipping agents to submit required data.
- Address, HS Code.
3. What's next?
1. For shipping agents:
- Ensure compliance with the new submission deadlines.
- Reach out to JP or PSA for submission methods.
- Make necessary amendments to BL data within stipulated time frames.
- Keep records of any changes made after the stipulated time for compliance verification.
2. For clarifications:
- Contact Singapore Customs via email at customs_ftz@customs.gov.sg.
- Refer to Annex A for frequently asked questions and further details.
4. Penalties
- Non-compliance with BL data submission requirements may result in fines up to $10,000, imprison-ment up to 12 months, or both
These updates would not directly impose new compliance responsibilities on the importers/exporters. However, it is important to be aware of these changes as they could indirectly impact their operations. For instance, ensuring that service providers (such as carriers and port operators) are compliant with the new regulations could be crucial to avoid any disruptions in their supply chain.
In summary, while importers/exporters are not directly responsible for filing the data as per the new regulations, they should still stay informed and ensure their service providers comply with these requirements. This will help maintain smooth operations and avoid any potential issues that could arise from non-compliance by their service providers.
If you are operating a zone in Singapore, it would be prudent to verify that service providers are adhering to the new regulations to ensure seamless operations
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