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Indonesia to lower overseas online shopping limit to $75

The Finance Ministry’s Customs and Excise Office has issued a regulation to lower the import limit for online shopping to only US$75 from the initial $100. “The new regulation will take effect on Oct. 10,” said its director general, Heru Pambudi, in Jakarta on Monday as reported by kompas.com. He said the policy was stated in Finance Minister Regulation No 112/PMK.04/2018 on […]

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Indonesia books US$1.02 billion trade deficit in August

Statistics Indonesia (BPS) announced on Monday that Indonesia recorded a trade deficit of US$1.02 billion in August, mostly as a result of oil and gas imports. The August trade deficit is half of the $2.03 billion deficit in July, Indonesia’s highest in five years. Exports decreased by 2.9 percent month-to-month (mtm) to $15.82 billion, with the mining sector contributing […]

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Indonesia: BI says Alipay, WeChat non-compliant with e-transaction regulations

Bank Indonesia has said that foreign consumer payment applications, like China’s Alipay and WeChat that Chinese tourists reportedly used in Bali, are not approved for local use. The central bank said the applications did not comply with regulations, in particular because they did not have a cooperation with local payment systems. BI payment system policy executive director Onny Widjanarko said in […]

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Indonesia: Higher consumer goods import tax effective today

The higher import tax on consumer goods is effective as of Sept. 13 as part of the government’s efforts to slow imports and improve its current account. Under a recently issued finance ministry regulation, the government has imposed a 10 percent on consumer goods range from cosmetics to household appliances, to clothes, hobby equipment, electronics, automotive products and to food and beverages. The new […]

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