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The Free Trade Zones Act 1966 is an Act to provide for the establishment of free trade zones in Singapore and for matters incidental thereto. Click on the links below to view the Free Trade Zones Act and selected subsidiary legislation:
In this guide, we will discuss what are free-trade zone in Singapore, how they are regulated, what are their advantages, and which permits or licenses your company requires to operate within free-trade zones in Singapore.
Free economic zones (FEZ), free economic territories (FETs) or free zones (FZ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries. The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity .
An Act to provide for the establishment of free trade zones in Singapore and the regulation of activities in those free trade zones, and for matters incidental thereto. [Act 33 of 2023 wef 01/03/2024] [1 September 1969] Singapore Statutes Online is provided by the Legislation Division of the Singapore Attorney-General's Chambers.
Aug 31, 2022 · Free trade zones (FTZs) are areas in a country where imported goods can be stored, assembled and processed while bypassing customs duties. Duties and taxes are only due once goods are moved into local consumer markets.
Free Trade Zones, better known by abbreviation FTZ are designated areas in certain countries where companies are free to import, sell or export goods without having to worry about customs, excise duties or being imposed with the Goods and Services Tax.
The World Free Zones Organization (World FZO) Atlas, curated by the World FZO Observatory, maps out all free zones and special economic zones around the world and provides insight into their industry focus and operations.
What is the Singapore Free Trade Zone? Singapore runs a free trade zone (FTZ) where goods can be stored, handled, and distributed without being subject to customs duties or taxes. The FTZ is a vital part of Singapore’s trade strategy and aims to promote the country as a hub for international trade.
Free Trade Zones (FTZs) in Singapore facilitate entrepot trade and transhipment activities. All goods imported by sea or air must first be deposited in a FTZ. If it is not practical to do so, you may be allowed to deposit the goods in Customs’ approved premises such as licensed warehouses.
Feb 28, 2024 · (Amendment) Regulations 2024. In exercise of the powers conferred by section 24 of the Free Trade Zones Act 1966, the Minister for Finance makes the following Regulations: [AG/LEGIS/SL/114/2020/4 Vol. 1] (To be presented to Parliament under section 24 (2) of the Free Trade Zones Act 1966).
