Govt cuts import duties

Govt cuts import duties

JAKARTA (JP): The government has cut import tariffs of raw
materials for the production of automotive components down to
five percent from a range of between 10 and 20 percent.

The Ministry of Finance said on Tuesday that the cut in the
import tariffs, which was effective beginning in April, was
needed in order to support the local auto parts industry.

The measure would affect all the raw materials for the
manufacturing of automotive components such as rolled and coated
steel sheets, carbon steel rods, ignition wiring sets, aluminum
alloy bars and refined copper wire.

The import tariff dispensation would also cover the raw
materials for the production of electronic components.

The ministry said that those interested in taking advantage of
the import tariff facilities should submit their requests to the
Directorate General of Customs and Excise. (07)