New Provisions on Import-Duty Exemptions for Reimported Goods Introduced

In an attempt to further regulate provisions on import-duty exemptions (“Exemptions”) for reimported goods that were originally exported (“Reimported Goods”), as mandated under Law No. 10 of 1995 on Customs, which was amended through the issuance of Law No. 17 of 2006, as well as to provide a set of updated provisions that set out Exemptions for Reimported Goods, as originally addressed under Regulation of the Minister of Finance (“Minister”) No. 106/PMK.04.2007 (“Regulation 106/2007”), the Minister has issued Regulation No. 175/PMK.04/2021 (“Regulation 175/2021”). As a result, Regulation 106/2007 has now been repealed and replaced.[1]