Jakarta, July 3, 2008 - The Minister of Finance has issued three more regulations regarding the rates of import duty in the context of Indonesia-Japan Economic Partnership Agreement (IJ-EPA), Media Indonesia reported on Thursday (07/03/08).
Head of the Fiscal Policy Board Anggito Abimanyu said that the regulations issued on June 30,2008 consist of Regulation of the Minister of Finance (PMK) Number 94/PMK.011/2008, Number 95/PMK.011/2008 and 96/PMK.011/2008.
PMK Number 94/PMK.011/2008 rules modality of reduction of import tariffs for IJ-EPA, while PMK Number 95/PMK.011/2008 is related to stipulated of rates of import duty in the framework of IJ-EPA. The regulation applies for five years with the provision that it starts applying on July 1,2008. PMK Number 96/PMK.011/2008 governs the stipulation of import duty in the framework of User Specific Duty Free Scheme (USDFS) for IJ-EPA.
"The cooperation would double the export value of Indonesia’s commodities to Japan in 2010, " said Anggito, adding that the two countries have agreed to cut down the rate of import duty on products to nil percent from 35%.
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