Tuesday, 27 October 2020 08:38

Sri Mulyani Reduces Export Levies on Wood Veneer to 5 Percent

Finance Minister Sri Mulyani Indrawati has revised the regulations concerning export goods subject to export duty and export duty tariff. In the new regulation, Sri Mulyani cut export duties, aka export levies for wood veneers (sheets of wood with a thickness of up to 3 mm), from 15 percent to 5 percent. This revision is contained in the Minister of Finance Regulation (PMK) Number 166 / PMK.010 / 2020 revising PMK Number 13 / PMK.010 / 2020. The new policy was signed by Sri Mulyani on Friday, 23 October 2020 and was promulgated on the same day.

"This Ministerial Regulation comes into force on the date of promulgation," reads this new regulation. However, this only applies to one veener criterion. The criteria are "thin sheets of wood obtained by peeling or slicing logs or sawn timber with a thickness of not more than 6 mm." Meanwhile, for wooden sheet veneers for packaging, the amount of the levy has not changed, which is 2 percent. Apart from that, Sri Mulyani also changed one provision in the exception section.

Veneer products in the form of wood slats or pencil slats remain free of export levies, such as the old PMK. But the dimensions have slightly changed, from the original width of no more than 70 mm to 80 mm in the PMK, which was just signed by Sri Mulyani.
Source: https://bisnis.tempo.co/read/1399602/sri-mulyani-pangkas-pungutan-ekspor-veneer-kayu-jadi-5-persen/full&view=ok

 

 

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