Singapore Allowing Temporary FTZ Storage for Liquor, Tobacco Products
Singapore Customs is allowing certain dutiable goods to be temporarily stored in free-trade zones for up to 30 days before being moved to a licensed warehouse or factory, according to a Feb. 21 circular. The change will mainly impact liquor…
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and tobacco products, which were previously not allowed to be stored in FTZs, the circular said. The change is aimed at improving “the quick turnaround for tran[s]shipment and encourage entrepot trade,” Singapore said. The company will impose penalties for traders who fail to move the goods to a “licensed premises” after being stored in the FTZ for 30 days.