Indonesia to Relax Import Duty Payments Requirements, Certain Licensing Rules Due to Coronavirus

Indonesia plans to introduce a series of import and tax measures to help companies impacted by the coronavirus pandemic, according to a March 19 report from the Hong Kong Trade Development Council. The measures, which take effect April 1, will allow certain companies to postpone payments of import duties for six months and will exempt all import duties for six months for 19 “selected” manufacturing sectors, the report said. Indonesia will also streamline its value-added tax refund procedure for exports and provide “expedited” export-import processing for traders “deemed to be in good standing.” The country also plans to relax import licensing rules for steel and certain food items, including sugar, flour and salt.