Sri Mulyani Adds 260 Types Of Goods Subject To DHE's New Rules

Illustration (Photo: Doc. Ministry of Finance)

Minister of Finance Sri Mulyani has issued the latest regulations, namely the Minister of Finance (KMK) Number 272 of 2023 and Regulation of the Minister of Finance (PMK) No. 73/2023 concerning the Imposition and Revocation of Administrative Sanctions for Violations of DHE Provisions.

Meanwhile, the pair of regulations were used as derivative rules for the issuance of PP Number 36 of 2023 concerning Export Result Foreign Exchange (DHE).

The Minister of Finance explained that KMK 272 added 260 new tariff posts from the previous 1,285 types of goods (in KMK 744/2020) to 1,545 types of goods worn by DHE.

"KMK Number 27/2023 at the same time revising KMK 744/2020," he said at a press conference in Jakarta, Friday, July 28.

According to the Minister of Finance, as many as 260 new tariff posts were distributed to four sectors, namely mining 29 (to 209), plantation 67 (to 567), forestry 44 (to 263), and fisheries plus 120 (to 506).

"So now after adding 260 tariff posts, only 1,545 types of goods are worn by DHE," he said.

Meanwhile, PMK 73/2023, among others, contains policies regarding the imposition of sanctions for exporters who do not comply with applicable regulations.

"We can stop the export activities," he said.

To note, the new Export Result Foreign Exchange rules require exporters to store foreign exchange/dollars in the country for a minimum of three months with two main provisions. First, at least 30 percent of trade transactions and with an export value of at least 250,000 US dollars per document.

This policy is intended to strengthen the structure of Indonesia's foreign exchange reserves and to avoid the potential for large export fund transfers abroad from natural resource lines.

Furthermore, the government's tactics are also ensured not to have an impact on small exporters because of the minimum trade limit of US$250,000.