Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Government Moving to Check Rising Food Costs
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Government Moving to Check Rising Food Costs

Value-Added Tax and Import Duties on Key Food Commodities to be Repealed as Indonesian Government Reacts to Rapidly Increasing Food Costs.


Bali News: Government Moving to Check Rising Food Costs
Click Image to Enlarge

(1/8/2011)

In an urgent step to curb inflationary food prices the Indonesian government will abolish value-added taxes and import duties on a number of food products.

Bisnis.com reports that the Coordinating Minister for the Economy, Hatta Rajasa, is concerned at the effect rapidly rising world food prices in the fourth-quarter of 2010 is having on the cost of food in Indonesia. As a result, the Minister will take steps to stabilize prices of basic food items through the application of financial instruments. Explained Hatta: "Yes, as regards fiscal measures, for example, value-added taxes and import duties, will be suspended to stop prices from rising."

He told the press that the government is still waiting for recommendations on which commodities should be exempted from import duties.

Those recommendations are scheduled to be in hand on Monday, January 10, 2011 with a regulation from listing the items to be exempted from import taxes to be published one or two days later by the Minister of Finance.

Hatta said: "We will make fiscal policies affecting trade. We will suspend import duties for flour, soybeans and livestock products. We will do all this to stabilize the cost of basic food commodities. Sugar has not yet been included in the items free of import duties. In our meeting (sugar duties) were not discussed as we wished for our sugar producers to progress." Hatta did not rule out eventually removing duties on sugar in the future in the continuing efforts to control prices.

The government will also undertake "market operations" in which goods experiencing sudden price hikes will be released into the market place by the government to prevent price gouging.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
When You Gotta Go, You Gotta Go
27-Year Old Australian Man Standing Trial in April 2014 Hijacking Scare on a Bali-Bound Virgin Australia Flight
(10/31/2014)
Now, Let us Pray
Religious Affair Minister Lukman Hakim Saifuddin Proposes Legislation to End Religious Persecution in Indonesia
(10/31/2014)
Bali's Man at the Presidential Palace
A.A. Gede Ngurah Puspayoga is Sole Balinese Named to Joko Widodo's Presidential Cabinet
(10/31/2014)
Vox Populi in Bali
Province of Bali Introduces Monthly Open Forum to Allow Citizens to Voice Criticism and Recommendations to Provincial Officials
(10/31/2014)
Conned by Condotels?
Marketer and Developer of Swiss-Belhotel Bali Condotel Project in Bali Being Sued by Unhappy Purchasers
(10/31/2014)
When Governments Fail to Act
Bankruptcy of Kintamani Restaurants Blamed on Bad Governance
(10/31/2014)
Arief Yahya Named Indonesia's Minister of Tourism
President Joko Widodo Picks Telkom CEO to be Indonesia's Tourism Czar
(10/31/2014)
Christmas Holiday Start for AirAsia X Bali-Melbourne Service
Indonesia AirAsia X to Start Flights Five Times Each Week Bali-Melbourne on December 26, 2014
(10/31/2014)
Tourism Drawing Lines in the Sand
Indonesian Minister of Tourism Label Malaysia and Thailand as 'Common Enemies' of Indonesian Tourism - Calling for Better Information Technology and Enhanced Hygiene
(10/31/2014)
Will Bali Put Crooked Moneychangers Out of Business?
Bank Indonesia Changing Registration Rules for Bali Moneychangers
(10/31/2014)
Beyond Bali
ASITA Calls on New Tourism Minister to Focus on More than Merely Bali in Designing Tourism Policies
(10/31/2014)
Be it Never so Humble
Export of Knockdown House from Bali Remains Sluggish
(10/31/2014)
All [News]!