Indonesia'S Zero Tariff Provisions, Textile Machinery And Other 157 Items Dropped To 0%
Indonesia
Finance minister Agus signed
New tariff on imported goods
Regulations No. eightieth of 2011 came into effect on the 18 th of this month.
According to the new regulations, tariff rates for 165 items have been corrected, of which 157 belong to the production of raw materials and capital goods, the tariff rate has been reduced from 5% to 0%, and the remaining 8 tariff rates have been raised from 5% to 10%.
Zero tariff items include spinning machines, textile machines, special sewing machines, tanning machines, shoe repair machines, TV frames, and specific displacement vessels.
Products that are subject to 10% duties include sardines, tuna, mackerel, candy, gum, candy and white chocolate.
Sagala, director of the policy and Quality Research Institute of the Ministry of industry, said the new regulations were in line with the recommendations of the Ministry of industry.
"It is conducive to the development of industry and commerce."
3 annex to the new ordinance.
Annex 1 lists 25 raw materials and capital goods that enjoy zero tariff, and shall come into force on the date of promulgation until December 31, 2011.
The zero tariff policy is mainly aimed at accelerating the development of machinery industry and shipbuilding industry.
Annex 2 provides that the 5% tariff rates of 25 raw materials and capital goods listed in Annex 1 have been restored since January 1, 2012.
"It is hoped that by the beginning of next year, our shipbuilding industry will have developed according to the targets."
Annex 3 sets out tariff rates for 165 items, including 25 raw materials and capital goods listed in Annex 1, and finished products subject to 10% duty.
More objects.
Indonesia is expected to benefit from Japan's post disaster reconstruction.
Fukushima nuclear power plant
Damage may also increase Japan's demand for gas and coal in Indonesia.
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