Step 1: Find out what is the preferential rate offered for your product
Step 2: Find out the rules of origin for your product HS code
Rules of origin are a set of criteria which determine a product’s originating status in each FTA. It is put in place to ensure that only goods originating from the FTA partner country will benefit from tariff concessions.
* If your product is produced exclusively from originating materials from one or more RCEP countries, but does not go beyond the minimal operations and processes (Article 2.6.2 of Chapter 2), the RCEP country of origin will be the country that contributed the highest value of originating materials used in the production of that product.
# If you are exporting to any of the 7 RCEP countries that impose Tariff Differentials and your product is listed in its Appendix to Annex I on Tariff Differentials, in addition to satisfying the Produced Exclusively criteria or PSR, the product must also meet the additional requirement (i.e. Domestic Value Content of at least 20%) for the product to qualify as originating from the exporting country.
The extent of RCEP’s benefits may differ across different product HS codes when compared to the other ASEAN’s FTAs. Companies are encouraged to study the RCEP and other relevant FTAs to assess and tap on the FTA which they can reap the most benefit.
Singapore Customs is the authorised body in Singapore for FTA Preferential Certificate of Origin (PCO) application. Below are the three general documentary processes in using FTA.
The process from registration to receiving PCO would typically take less than one month. Please refer here for more information.