Indonesian resources exporters want adjustments on new foreign exchange retention rule
Business
JAKARTA: Indonesian companies are asking the government to consider adjustments to the new rule to retain all proceeds from natural resource exports onshore for a year, amid concerns it will further hurt their cashflows. On Tuesday (Jan 21), Jakarta announced the new rule will take effect on Mar 1 and applies to every export with a shipping document worth at least US$250,000. Currently, exporters are only obliged to retain 30 per cent of total proceeds for a minimum of three months, which
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