The import duties imposition was decided based on the trade minister`s proposal, said Yudi Pramadi, the communication and information service bureau chief of the finance ministry here on Thursday.
In accordance with the investigation results made by the Indonesian trade security committee, there has been a surge in the import volume of cotton yarn other than sewing thread, causing serious losses to the domestic industry.
The import duties imposed for three years period starting from June 6, 2011, Yudi Pramadi said.
The import duties rate for the first full year is at
Rp40,687 per kg. The rate for second year from the expiration date of the first year is Rp38,144 per kg. The third year rate from the expiration date of the second is Rp25,601 per kg.
The provisions concerning the imposition of the import duty tariffs apply fully to the imports of goods which the documents referred to receive notification of the customs import registration numbers from the customs office in the port of entry since the effective date of the Finance Minister`s Regulation.
A number of countries are exempt from the imposition of the import duties against the cotton yarn other than sewing thread based on the appendix I of the Finance Minister`s Regulation.
(Uu.B003/HAJM)
Editor: Priyambodo RH
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