Indonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpuf
Indonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpufIndonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpuf
Indonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpufIndonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpufIndonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent.
Indonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent.
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpufIndonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpufIndonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent.
- See more at: http://www.tax-news.com/news/Indonesia_To_Place_Minimum_Tax_On_Palm_Oil_Exports____67618.html#sthash.ogfSYffR.dpuf
Indonesia is to impose a tax of USD50 per metric ton on its exports of crude palm oil (CPO) when prices fall below USD750 per metric ton.
Indonesia, the world's largest producer of CPO, and Malaysia, the second-largest, have levied a zero rate of export tax on CPO since October and September last year, respectively.
Earlier Malaysia said that, based on a price of USD613 per ton, it would levy a 4.5 percent from April 2015, under its mechanism, which is tied to selling prices. Indonesia, however, does not levy export tax on CPO exports until prices are USD750 or higher.
Chief Economic Minister Sofyan Djalil said the Government is now proposing that, with effect from next month, a fixed levy of USD50 per metric ton will be placed on CPO exports when CPO prices are below the USD750 threshold.
The revenues from the fixed levy will be channeled directly to fund its recently enhanced biofuel subsidy program. Subsidies will rise to IDR4,000 (USD0.31) per liter from IDR1,500 per liter to prop up the local biofuel industry. The Government has also confirmed that it will raise the ethanol content requirement for biodiesel blends to 15 percent, up from 10 percent.
