Govt cuts import duty

JAKARTA (JP): The government announced on Wednesday a cut in import duty on breakfast cereal products made by Kellogg's Limited of Thailand from 100 percent to only 10 percent.

Head of the public relations department of the Ministry of Finance Hadiyanto said the move was part of the tax relief program made under the ASEAN Industrial Joint Ventures cooperation scheme.

"The program's tax relief, which is effective from June 15, 1998, through Dec. 31, 2002, is only applicable if the importer can obtain a signature of approval from an authorized official of any country originating within ASEAN," he said.

Meanwhile, the government has also maintained zero percent duty on imported spare parts for the heavy machinery assembling industry. It is effective from Jan 1, 1999 through Dec. 31, 1999, it added.

The extended tax relief also affects bulldozers, hydraulic excavators, forklifts, motor graders, wheel loaders, agriculture tractors, fuel filters and exhaust pipes.

Each product category consists of between 5 and 168 spare part components. (udi)