Hi all,
I'm coming back to this forum as I got really good feedbacks and answers to my questions the last time.
I'm looking at selling "worldwide" Thai made products. My company is registered in SG.
Ideally, I'd like to store these products in SG, so I can make a nice branded package for them.
I've been reading through IRAS pages but I'm still unclear.
1 - My understanding is that I'll have to pay the 7% GST to clear these products at import, even if I don't intend to bring them into the local market. Is that correct ?
2 - What else should I be aware of when importing products in SG ?
3 - When selling a product to an overseas customer, do I have to add a 7% GST again ?
What about selling locally ?
4 - Also, given the situation, should I be better off looking for a fulfilment center in Thailand ?(and forget about the package branding)
Considering we'll start with a pretty low volume and our products are between 50-100SGD, I haven't really considered that option until now.
5 - Do you guys know of a way for non-business people in SG to get properly educated about buisiness in SG, like import, export, taxes, paperwork, etc ?
My biggest fear here is screwing up my business because I might not have understood clearly what I'm supposed to declare, pay, etc..
6 - Should I just visit IRAS, present my business and ask them questions directly ? (is that even doable ?)
Thanks !
ben