Entrepreneurs Wants Incentives to Ease Export Earnings Provisions

Summary

The government and Indonesian central bank, Bank Indonesia (BI), will reimpose sanctions related to the provisions for exporters to domestically deposit their export earnings (DHE) in government-appointed banks. Director General of Customs and Excise Askolani revealed the plan to review the DHE sanctions. "The matter is still being coordinated with the Coordinating Economic Ministry, BI, and DJBC for future adjustments," he told CNBC Indonesia. For the record, BI decided to extend the submission deadline for the Export Suspension (SPE) exemption until the end of December 2022.

During the pandemic, the government and BI have been relaxing the DHE implementation. Indonesian Exporters Association (GPEI) secretary general Toto Dirgantoro admitted that exporters were aware of this plan. They are ready as long as the provision is clear and relevant ministries/agencies are in sync. In addition, exporters also ask for more incentives, such as a foreign exchange difference guarantee. "We hope there is a sweet incentive from the government, and it at least uses BI's middle rate," Toto said on Monday.

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