Indonesia Reduces Export Tax Threshold on Crude Palm Oil

Crude Palm Oil Export Tax Threshold Reduced So Indonesia Can Hit Up to $5 Billion in Revenue

Indonesia is targeting up to $5 billion in revenue from furniture exports this year by reducing the export threshold on crude palm oil.

Certification will be given by the Government to ensure the furniture industry is using materials from forests that are sustainably managed. Certification costs will be covered by the Industry Ministry. The Ministry will use a multi-stakeholder tracking system called the SVLK (Certification and Legality Procedures) to ensure the legality of the process.

 

The SVLK System

Indonesia’s SVLK system was developed for the trade and distribution of forest products to facilitate the current regulations of the industry. Export financing will also be facilitated by the Indonesian Export Financing Agency (LPEI).

When it comes to raw material supplies, Indonesia has the upper hand. It has potential to become the regional leader in the ASEAN furniture industry.

 

Expand Into Nusantara with 3E Accounting

Not every country has the same rules when it comes to establishing a business. No one knows that better than 3E Accounting. As the region’s leading experts in all things incorporation, we are renowned as the trusted experts.

Cut your business setup time in half by letting 3E Accounting take the lead. If you’re ready to explore the possibilities in Indonesia, we’re ready to help. For more information about company incorporation in Indonesia, get in touch with the 3E Accounting team today.