New Collaterals to Secure Releases of Certain Imported Goods via Rush Handling

In 2021, the Minister of Finance (“Minister”) issued Regulation No. 74/PMK.04/2021 (“Regulation 74/2021”) on Releases of Imported Goods for Use Through Immediate Services (“Rush Handling”) which, at its core, set out a new framework that allowed for imported goods to be released from customs areas or temporary storage locations (Tempat Penimbunan Sementara – “TPS”) prior to the submission of imported goods notifications (Pemberitahuan Impor Barang – “PIB”) or Special PIB (PIB Khusus/PIBK) through the Rush Handling mechanism.[1]