Government Re-regulates Bonded Zones

The Minister of Finance (“MoF”) has issued Regulation No. 120/PMK.04/2013 of 2013 (“Third Amendment”)as the Third Amendment to MoF Regulation  No. 147/PMK.04/2011 of 2011 on Bonded Zones (“Bonded Zone Regulation” or“Regulation”).[1]

The Third Amendment primarily changes the provisions of the Bonded Zone Regulation regarding service categories (Art. 3), subcontracting (Arts 39 and 40), corporate guarantees (Art. 55), bonded zone licenses over industrial development areas (Art. 56A), and status as a bonded zone business (Art. 55).