Paper import duties cut

JAKARTA (JP): The government has lowered import duties on paper products to 20 percent from the previous range of 25 to 30 percent.

According to the Ministry of Finance's statement made available to The Jakarta Post yesterday, the import duty surcharge for paper was also reduced to five percent on Monday from the previous 15 percent.

The government also abolished the import duty surcharge on formic acid, a substance used for tire production.

The import duty for formic acid will, however, be maintained at the current level of 20 percent.

The statement said the government has also reduced the import duty for stainless steel wire rods, raw materials for the production of bolts and screws, to five percent from 20 percent. (hen)