RI plans to axe CPO tax<\/p>\n
JAKARTA (Reuters): Indonesia plans to axe its taxes on exports
\nof crude palm oil (CPO) and palm oil by-products this month to
\nmake its products more competitive internationally, a senior
\ntrade ministry official said on Wednesday.<\/p>\n
\"The plan to cut CPO and palm oil by-products taxes to zero
\npercent has been recommended by a tariff team,\" international
\ntrade director-general Djoko Muljono told Reuters.<\/p>\n
The plan, which must be signed off by Finance Minister Bambang
\nSudibyo, is expected to be implemented after the annual session
\nof the top legislature which ends on Friday, to avoid any unrest
\nduring the assembly.<\/p>\n
Muljono said the recommendation was made due to Malaysia's
\ndecision to allow duty-free CPO exports and India's plan to hike
\nits import duty on edible oils.<\/p>\n
Indonesia, the world's second largest CPO producer, imposes a
\n10 percent export tax on CPO, six percent on palm olein, eight
\npercent on refined bleached deodorized (RBD) palm oil and six
\npercent on crude palm olein.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-plans-to-axe-cpo-tax-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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