ANNOUNCEMENT 25 Jun 2021

In June 2021, Indonesia introduced a regulation to reduce plantation fund tariffs for the exports of palm oil and its derivative products.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

The Indonesia Minister of Finance Regulation (PMK) No.76/PMK.05/2021 (in Bahasa Indonesia): https://jdih.kemenkeu.go.id/download/30a94928-f217-48ee-934e-c2be549f350f/76~PMK.05~2021Per.pdf

Inception date: 02 Jul 2021 | Removal date: open ended

Export tax

On 25 June 2021, Indonesia issued the Minister of Finance Regulation (PMK) No76/PMK.05/2021, reducing the plantation fund tariffs for the exports of palm oil and its derivative products set out in the Minister of Finance Regulation (PMK) No.191/PMK.05/2020 (see related Act). The reductions of plantation fund tariffs were as follow:

  • for HS Code 151110, the plantation tariff was reduced from a range of USD 55 - USD 225 per tonne to a range of USD 55 - USD 175 per tonne depending on the market price of CPO;
  • for HS Code 151190, the plantation tariff was reduced from a range of USD 55 - USD 225 per tonne to a range of USD 55 - USD 175 per tonne depending on the market price of CPO;
  • for HS Code 151321, the plantation tariff was reduced from a range of USD 55 - USD 225 per tonne to a range of USD 55 - USD 175 per tonne depending on the market price of CPO;
  • for HS Code 151329, the plantation tariff was reduced from a range of USD 55 - USD 225 per tonne to a range of USD 55 - USD 175 per tonne depending on the market price of CPO;
  • for HS Code 382319, the plantation tariff was reduced from a range of USD 35 - USD 202.5 per tonne to a range of USD 35 - USD 131 per tonne depending on the market price of CPO;
  • for HS Code 382600, the plantation tariff was reduced from a range of USD 25 - USD 192.5 per tonne to a range of USD 25 - USD 121 per tonne depending on the market price of CPO;

The plantation fund tariff is an export levy beside export's custom duty imposed on Indonesian exporters of palm oil and its derivative products. 

The regulation entered into force on 2 July 2021.

AFFECTED SECTORS

 
216 341 354

AFFECTED PRODUCTS

 
151110 151190 151321 151329 382319 382600