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Plastic import incentives increased.

The government has increased import duty facility for plastic and plastic goods this year by 40% to Rp81 billion. The decision is given in the regulation of the finance minister No.96/PMK.011/2012 on import duty paid by the government (BMDTP) on import of goods or materials for plastic packaging, plastic sheets, Biaxially Oriented Polypropylene Film, Cast Polypropylene Film, material and or plastic based household furniture, plastic bags, plastic yarn, plastic canvas and or Geotextile for 2012 budget year. BMDTP for plastic goods and materials constitutes subsidy with ceiling at Rp81.95 million in the 2012 state budget. The ceiling is 40% higher from last year's Rp49.26 million. Companies have to submit proposal to the Customs and Excise Directorate General for the facility by enclosing import plans approved by the industry ministry.

The finance minister regulation is effective from June 13 until Dec. 31 this year. Fajar Budiyono, the secretary general of the association of aromatic, olefin and plastic industries (Inaplas), said his office has urged the government to immediately issue the regulation. He predicted the use of the fund would be effective as from September. Therefore, distribution of BMDTP would be effective only for three months.
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Title Annotation:ECONOMIC NEWS IN BRIEF
Publication:Indonesian Commercial Newsletter
Date:Jun 1, 2012
Words:200
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