Import Duties To Fall This Year Due To ACFTA

 
 
 
 
 
 
 
 
 
 

Import duties, excluding those paid by the government, are estimated to drop Rp 1.6 trillion (US$172.8 million), or 8.5 percent, this year to Rp 16.5 trillion partly due to the lower tariffs set on the free trade agreement between ASEAN countries and China.

Last year, the government received Rp 18.1 trillion in import duties, the Finance Ministry said.

Import tariffs on average for ASEAN countries are lower this year, 1.58 percent as compared to 1.82 percent in 2009, Finance Minister Sri Mulyani Indrawati said at a hearing with the House of Representatives' commission VI overseeing trade, industry and state enterprises.

Also present were State Own Enterprise Minister, Mustafa Abubakar, Industry Minister MS Hidayat, Trade Minister Mari Elka Pangestu and State Cooperatives and Small Middle Enterprise Minister Syariefuddin Hasan.


(Source: thejakartapost.com)