Thu, 28 Apr 2011

TEMPO Interactive, Jakarta:The Finance Minister has issued new regulations on the elimination of 182 tariffs for raw and capital goods “This is part of the downstream industry development program,” said Bambang Brodjonegoro, Fiscal Policy chief at the Finance Ministry, yesterday.

The regulation is mentioned in Finance Minister’s Regulation No.80/2011 on Goods Classification System and Custom Duty Tariff on Imported Goods. According to Bambang, the elimination of custom duties is aimed at increasing the local industry’s competitiveness. The government wants to protect domestic finished products from the flood of Chinese products.