Hundreds of Exporters Penalized for Saving Forex Overseas

By Editorial Team 04/01/2023
locked money
Summary

The government penalized 219 exporters for not keeping their export foreign exchange (DHE) proceeds in Indonesia. Director General of Customs at Finance Ministry Askolani said hundreds of exporters were fined Rp 53 billion. "Until now, Rp 4.5 billion in fines have been received because the sanctions are due," Askolani said on Tuesday.

According to him, exporters are given a deadline to pay the fines in seven months, threatening that actions will be taken in accordance with prevailing regulations.

Meanwhile, Bank Indonesia Governor Perry Warjiyo said he had required the repatriation of natural resources and export proceeds into the country. According to him, most export proceeds have entered a special account. However, Bank Indonesia sees that DHE holders cannot hold dollars in domestic banks. "We are looking for ways to make exporters who have DHE keep it in local banks longer," he said.

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