Thu, 10 Dec 2009
TEMPO Interactive, Jakarta: The government announced plan to remove exit or entrance fee for commodities in Batam, Bintan, and Karimun Free Trade Zone as part of the plan to revise the trade regulation in the area.

“We will remove the (free trade) barrier in Batam especially the double taxation,” Coordinating Minister for the Economy Hatta Radjasa said after the Investment Award ceremony at the Investment Coordinating Board's office on Wednesday (9/12).

The double taxation is fee paid as insurance for commodities entering or leaving the Batam, Bintan, and Karimun, and Hatta said the revision will make the region a real Free Trade Zone.

Earlier Trade Minister mari Elka Pangestu said the so called master list which requires importers to register all commodities entering the region, will also be revised. The new mechanism reportedly will allow importers to make changes on their import data at any time just by using packing list or commercial invoice.

Vice Chairman of the Riau Island Regional Chamber of Commerce, Abdoellah Gosse welcomed the announcement and urged to the government to follow the plan with bureaucracy reform and simplify permit mechanism under one agency.

EKA UTAMI APRILIA



News Search/Filter
Transaction Rates
12 Dec 17
Buy
Sell
BTC1
221,842,527
221,842,527
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services