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Harmonized System. The Harmonized Commodity Description and Coding System, also known as the Harmonized System ( HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO ...
The rupiah ( symbol: Rp; currency code: IDR) is the official currency of Indonesia, issued and controlled by Bank Indonesia. Its name is derived from the Sanskrit word for silver, rupyakam ( रूप्यकम् ). [ 4] Sometimes, Indonesians also informally use the word perak ("silver" in Indonesian) in referring to rupiah in coins.
List of countries by tariff rate. This is a list of countries by tariff rate. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1. Import duty refers to taxes levied on imported goods, capital and services. The level of customs duties is a direct indicator of the openness of an ...
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry.
Shortly after Indonesia proclaimed independence, the organization of the Ministry of Finance was formed and the Customs and Excise was established to be part of the Tax Office. [ 2 ] On 1 October 1946, Sjafruddin Prawiranegara , minister of finance at the time, decide to overhaul organizational structure of the Ministry of Finance.
The ASEAN Free Trade Area ( AFTA) [ 1] is a trade bloc agreement by the Association of Southeast Asian Nations supporting local trade and manufacturing in all ASEAN countries, and facilitating economic integration with regional and international allies. [ 2][ 3][ 4] It stands as one of the largest and most important free trade areas (FTA) in ...
Indonesia currently enjoys trade preferences with the EU under the generalized scheme of preferences which grants product imports into the European Union either duty-free access or tariff reductions. At present, almost 40 per cent of Indonesia's 13 billion Euros exports to the EU market are eligible for preferential treatment.
Under new rules made public late on Tuesday, Indonesia will remove luxury tax on EVs for the 2024 fiscal year and import tax until the end of 2025. It will also lower value-added tax to 1% from 11 ...