Indonesia: Customs value for entries, voluntary declaration

Indonesia: Customs value for entries

The Ministry of Finance issued a regulation concerning the voluntary declaration of customs value for purposes of calculating customs entries.

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Because importers may not be able to accurately determine the final transaction value (for instance, if future additional costs will be incurred), importers are now allowed to use an estimated transaction value as the basis for their import payable calculation. The voluntary declaration regime also concerns the obligation of importers to determine the future price, royalty, and proceeds—i.e., components for calculating the transaction value for customs purposes. Importers must make future “voluntary payments” to cover any difference if, at a later date, the estimated transaction value is found to be lower than the actual transaction value and settle any underpaid import customs duty with the customs office.

 

Read a July 2016 report [PDF 533 KB] prepared by the KPMG member firm in Indonesia

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