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Selasa, Januari 17, 2023

Government to Amend Provisions on Imports of Textile and Textile Products to Boost Domestic Industry

Manufacturing & Industry Trade

Indonesia’s Minister of Trade (“Minister”), Zulkifli Hasan, recently stated that the government is planning to amend provisions regarding textile imports in order to help domestic industry to meet its raw material requirements. In particular, the government is hoping to improve regulations that allow for tax-free raw materials, which help local industries to develop and export their products.
The Minister further acknowledged that the Indonesian textile and textile product (Tekstil dan Produk Tekstil – “TPT”) industry is currently experiencing a decline which seems to be related to a huge oversupply of finished goods and products being imported from abroad.
As a result, the government has pledged to provide greater support to the domestic TPT industry so that it can compete and even allow for export opportunities. The Minister has also reaffirmed that in order to realize this target, the various raw materials required by the domestic TPT industry must be exempted from the imposition of tax. (ANT)

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Indonesia’s Minister of Trade (“Minister”), Zulkifli Hasan, recently stated that the government is planning to amend provisions regarding textile imports in order to help domestic industry to meet its raw material requirements. In particular, the government is hoping to improve regulations that allow for tax-free raw materials, which help local industries to develop and export their products.
The Minister further acknowledged that the Indonesian textile and textile product (Tekstil dan Produk Tekstil – “TPT”) industry is currently experiencing a decline which seems to be related to a huge oversupply of finished goods and products being imported from abroad.
As a result, the government has pledged to provide greater support to the domestic TPT industry so that it can compete and even allow for export opportunities. The Minister has also reaffirmed that in order to realize this target, the various raw materials required by the domestic TPT industry must be exempted from the imposition of tax. (ANT)

......

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