ULOG: 11 "The Government Will Increase Luxury Car Import Duty up to 190 %"
Img source : topspeed.com
The government insists it will raise the import duty on luxury cars to reduce the amount of imports. In addition, the policy plan was also carried out to ease the current account deficit or
current account deficit (CAD).
For now, import duties on luxury cars are only 10 to 50 percent of the total price of cars. However, with the new policy plan the import duty is equated to 50 percent.
"For luxury car items, in a situation like this, it is luxury that is not important for this republic. This is what we mentioned, we increased the import duty which was between 10-50 percent, we raised all 50 percent," explained Minister of Finance Sri Mulyani at the Ministry of Finance's Djuanda Building, Wednesday (05/09/2018).
Not only that, import duties on luxury cars will also increase to 60 percent because of the addition of 10 percent VAT.
The luxury cars referred to here are cars that fall into the category of Sales Tax on Luxury Goods (PPnBM).
Thus, the consumer burden will also increase due to the presence of PPnBM for luxury cars with a range of 10 to 125 percent.
"So, if luxury cars enter here, they are likely to have to pay 125 percent plus the 50 percent import duty, 10 percent VAT, so that it is approximately 190 percent of the price of the car," he continued.
Sri Mulyani also hopes that the policy of raising the import duty on luxury cars is able to limit imports which currently value 87.8 million US dollars.
"That is expected to reduce imports of luxury cars because the price is almost three times higher than outside," he added.
This post was made from https://ulogs.org