Indonesia to lower overseas online shopping limit to $75

The Finance Ministry’s Customs and Excise Office has issued a regulation to lower the import limit for online shopping to only US$75 from the initial $100. “The new regulation will take effect on Oct. 10,” said its director general, Heru Pambudi, in Jakarta on Monday as reported by

House budget committee revises rupiah exchange rate assumption

The House of Representatives budget committee revised on Wednesday the rupiah exchange rate assumption in the 2019 state budget bill to Rp 14,500 per US dollar from Rp 14,400 per US dollar as previously proposed by the government in a draft bill. Lawmakers and government representatives agreed on the revised figure after reviewing ongoing…

Indonesia Raises Import Taxes on 1,000-Plus Goods to Support Rupiah

Indonesia will raise import taxes on more than 1,000 goods, ranging from cosmetics to cars, as part of measures aimed at cutting imports and supporting a weak rupiah, Finance Minister Sri Mulyani Indrawati said on Wednesday (03/09). The import tax will be raised to up to 10 percent on 1,147…

Indonesia issues new rules for palm oil and other commodity exporters as rupiah slides

Indonesia has laid out new rules for commodities exporters to guarantee funding for shipments through Indonesian banks or branches of foreign banks in the country, the trade minister said on Tuesday, and part of a bid to prop up the ailing rupiah. The Indonesian currency <IDR=> has fallen about 9…
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