Jakarta. The Customs Office has tightened the rules for e-commerce imports on Monday as part of a concerted effort to protect local small businesses producing shoes, bags and clothes. Heru Pambudi, the director general of customs and excise at the Finance Ministry, said in a statement that any import shipment valued at $3 or more must now pay import tax – a much lower […]
Read MoreThe government will lower the threshold at which it begins to impose import taxes on consumer goods sold via e-commerce to just $3 (about Rp 42,000), from $75, to control purchases of cheap foreign products and protect small domestic firms, officials said on Monday. Overseas shipments from e-commerce purchases jumped to nearly 50 million packages […]
Read MoreBank Indonesia (BI) will further slash the nation’s benchmark interest rate by 50 basis points (bps) in 2020 to stoke economic growth amid weak domestic demand that had been dragged down by a slowdown in investment, according to projections by Fitch Solutions Macro Research. The central bank maintained its policy rate, the seven-day reverse repo […]
Read MoreWHAT started as a spat with the European Union (EU) over Indonesian palm oil has escalated into a far broader trade dispute with imported European spirits and now dairy products caught in the crossfire. Trade tensions have ratcheted up since the European Commission concluded in March that palm oil causes excessive deforestation and should not […]
Read MoreBank Indonesia (BI) held the nation’s benchmark interest rate steady at 5 percent on Thursday after cutting the policy rate by a total of 100 basis points (bps) in the second half of this year to fuel economic expansion. Loan growth dropped to 6.53 percent in October, further signaling weak economic expansion. “With improving global and […]
Read More(AFP) – Tens of thousands of pigs have died from African swine fever in Indonesia’s North Sumatra province, officials said yesterday, the first time the virus has been detected in the country. The disease has devastated swine herds in China and elsewhere in Asia, and initially Indonesia authorities put the death of 27,000 pigs down to […]
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