Minggu, Maret 17, 2024

Guidelines for the Implementation of Postponements and Installment Payments for Debt Within the Customs-and-Excise Sector Introduced

Following the enforcement of Regulation of the Minister of Finance ("Minister") No. 154 of 2023 ("Regulation 154/2023") on Postponements and Installment Payments for Debt Within the Customs-and-Excise Sector ("Debt"), the Director-General of Customs and Excise ("Director-General") has decided to introduce new set of guidelines for the implementation Debt payment postponements ("Postponements") or Debt payments in installments ("Installment Payments"), as originally mandated under Regulation 154/2023, through the issuance of Regulation No. PER-3/BC/2024 ("Regulation 3/2024"), which has been in force since 26 February 2024.
In essence, the Director-General is authorized to grant Postponements (for customs debt only) or Installment Payments (for both types of Debt) based on applications that are submitted by relevant debtors. However, debtors who secure Postponements and Installment Payments will then subsequently be unable to file objections and/or amendments seeking legal or administrative remedies. All customs debt Postponements and Installment Payments will be granted by taking into account the financial capabilities of the relevant debtors. Meanwhile, Installment Payments for excise debts can be secured by industrial businesses that are experiencing financial hardships or force-majeure events.
In the event that debtors manage to secure approvals for Postponements or Installment Payments, then the respective debtors will be required to organize collateral (e.g. bank guarantees, corporate guarantees, tangible assets and so forth) with values that meet the following criteria: 1) Minimum equivalent value of the postponed Debt, including charged interest; or 2) Minimum of 25% of the applied-for Installment Payments with charged interest. In this regard, a given guarantee period will last the duration of the relevant Postponement or Installment Payment period plus an additional 30 days, while the collateral must be submitted within 10 business days of the issuance of the relevant Postponement or Installment Payment approval.
The above-described Postponements and Installment Payments should be granted a maximum deadline of 12 months from the issuance of the relevant approvals, while Postponements and Installment Payments will be charged monthly interest at a rate of 2%. Said interest will be imposed cumulatively for no longer than 24 months and will be calculated based on the relevant principal Debt (for Postponements) and Debt remainder (for Installment Payments).

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Following the enforcement of Regulation of the Minister of Finance ("Minister") No. 154 of 2023 ("Regulation 154/2023") on Postponements and Installment Payments for Debt Within the Customs-and-Excise Sector ("Debt"), the Director-General of Customs and Excise ("Director-General") has decided to introduce new set of guidelines for the implementation Debt payment postponements ("Postponements") or Debt payments in installments ("Installment Payments"), as originally mandated under Regulation 154/2023, through the issuance of Regulation No. PER-3/BC/2024 ("Regulation 3/2024"), which has been in force since 26 February 2024.
In essence, the Director-General is authorized to grant Postponements (for customs debt only) or Installment Payments (for both types of Debt) based on applications that are submitted by relevant debtors. However, debtors who secure Postponements and Installment Payments will then subsequently be unable to file objections and/or amendments seeking legal or administrative remedies. All customs debt Postponements and Installment Payments will be granted by taking into account the financial capabilities of the relevant debtors. Meanwhile, Installment Payments for excise debts can be secured by industrial businesses that are experiencing financial hardships or force-majeure events.
In the event that debtors manage to secure approvals for Postponements or Installment Payments, then the respective debtors will be required to organize collateral (e.g. bank guarantees, corporate guarantees, tangible assets and so forth) with values that meet the following criteria: 1) Minimum equivalent value of the postponed Debt, including charged interest; or 2) Minimum of 25% of the applied-for Installment Payments with charged interest. In this regard, a given guarantee period will last the duration of the relevant Postponement or Installment Payment period plus an additional 30 days, while the collateral must be submitted within 10 business days of the issuance of the relevant Postponement or Installment Payment approval.
The above-described Postponements and Installment Payments should be granted a maximum deadline of 12 months from the issuance of the relevant approvals, while Postponements and Installment Payments will be charged monthly interest at a rate of 2%. Said interest will be imposed cumulatively for no longer than 24 months and will be calculated based on the relevant principal Debt (for Postponements) and Debt remainder (for Installment Payments).

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