Friday, 19 Apr 2019

Minister of Finance said the tariff is adjustable from the tax of soap, shampoo, to onions


Sri MulyaniSri Mulyani - Government through the Minister of Finance of the Republic of Indonesia Sri Mulyani set the value of import income tax (PPh) up to 10 percent for 1,147 tariff posts. This income tax rate adjustment is a government strategy to reduce the trade balance deficit.


"There are 1,147 adjusted tariff posts, ranging from everyday items such as shampoo and cosmetics, to luxury goods," said the Minister.


1,147 tariff posts are divided into 3 categories of goods. First, 210 items of goods where PPh rates rose from 7.5 percent to 10 percent. Valid for luxury items such as CBU cars (completely built up) and large motorcycles.


The second group had 218 items of goods whose PPh rates rose from 2.5 percent to 10 percent. Valid for all consumer goods which can mostly be produced domestically.


And the third category is there are 719 items of goods whose PPh rates rise from 2.5 percent to 7.5 percent. This applies to items used in the process of consumption and other necessities. For example, building materials such as ceramics, audio-visual electronic equipment such as cables, speaker boxes, overcoat, polo shirts, swim wear.


In a press conference before the press at the beginning of last week, Sri Mulyani at the Jakarta Ministry of Finance Office said, "Examples of electronic items such as dispensers, air conditioners and lamps. Also for daily necessities such as soap, shampoo and cosmetics, and cooking utensils or the kitchen is also included. "


It is said that the Minister of Finance also until August 2018, the number of imports has reached USD 5 billion. The overall import value is the same as the stipulated tariff post of 1,147 items, and the previous time reached USD 6.6 billion.


"It is hoped that this could save the rupiah exchange rate," the minister said.


In addition to these 3 groups, there are 57 tariff posts with fixed PPh import tariffs of 2.5 percent. In this sector, imported goods are raw materials that have a big influence on economic growth.


"There are 57 fixed income tax groups, which are goods that have a big role to put in raw materials and maintain economic growth and most of it is consumed," he said.


The revised PMK, said Sri Mulyani, was signed this morning and will be issued soon. He said this was a government action to respond quickly to current global economic conditions.


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