The Finance Ministry’s directorate general of customs and excise has issued a policy extending the period of use of raw materials and capital goods for re-export to 24 months.
Previously, companies that imported raw materials and capital goods were only given 12 months to process the materials into processed goods and to re-export them.
A spokesman for the directorate general of customs and excise Evy Suharyanto said Tuesday the extension policy, known technically as KITE, would help exporters cope with the global economic downturn.
“It is part of the fiscal stimulus from the Customs and Excise (office) to help companies (boosting exports).” he said.
According to the Central Statistics Agency (BPS), exports contracted by 33 percent in February from a year earlier as the global economic crisis cut demand and pushed down the price of key commodities.
The Indonesian Chamber of Commerce and Industry (Kadin) said exports could plunge by up to 50 percent this year as the slump in global demand continued, while the central bank estimated exports might contract by less, as little as 28 percent.
As of April 8, the directorate general of customs and excise collected Rp 20.15 trillion (US$1.85 billion) in revenue, or 28 percent of the Rp 71.43 trillion target set in the revised 2009 state budget, slightly better than aimed targeted.
However, Wahyu Purnomo, the director of international customs at the customs and excise office, said April’s customs and excise revenue might be lower than in previous months due to the “impact of the global crisis”.
Customs and excise performance (in billion rupiah)
January February March April (as of 8th) Total 2009 Target 2009 Import duty 1,435.32 1,342.22 1,493.39 361.88 4,632.81 14,651.2 Export duty 1.51 7.21 379.99 0.96 389.68 2,380.4 Excise duty 4,394.97 4,582.43 5,786.63 365.64 15,129.67 54,399.8 Total 5,831.8 5,931.86 7,660.01 728.48 20,152.15 71,431.4
Find Article by Date