Fri, 11 Mar 2011
From: Antara News
By From: Antara News
Jakarta (ANTARA News) - The government is studying a proposal to impose a flat export tax on crude palm oil, Trade Minister Mari Elka Pangestu said.

"We have looked again at the proposal for a would flat export tax on CPO. We have come to a number of options but have not yet endorsed any of them," she said here on Thursday.

She said the government would issue policy on the imposition of export tax on CPO to ensure the adequate supply of raw materials to the domestic industry and encourage the growth of downstream oil palm processing industry which would later give added value to the commodity.

Deputy Trade Minister Mahendra Siregar said the application of the policy had a concrete impact on the adequate supply of raw materials to the domestic cooking oil industry.

Yet the imposition of export tax on CPO had not yet had a significant impact on the growth of downstream oil palm processing industry and its derivative products, he said.

Since October 2010 export tax on CPO has continued to increase in line with the rising CPO prices on the global market.

Export tax on CPO rose to 10 percent in November 2010 from 7.5 percent in October 2010 and further moved up to 15 percent in December 2010. (*)



News Search/Filter
Transaction Rates
20 Oct 17
Buy
Sell
BTC1
76,517,149
76,517,149
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