Thu, 18 Sep 2008
The finance ministry has officially abolished the value added tax (VAT) on textile machine imports as part of the country's restructuring program in the textile industry, Asia Pulse reported.

The abolition of the VAT was in reply to a request by the Indonesian textile association (API) late last year, The Jakarta Post said.

API chairman Benny Soetrisno said he would seek further details on the announcement as he did not know whether the decision is retroactive.

Last year the government launched a revitalization program providing soft loans and subsidies for banks lending to modernize and improve the competitiveness of the industry.



News Search/Filter
Transaction Rates
19 Jan 18
Buy
Sell
BTC1
159,384,761
159,384,761
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