Ministry of Industry encourages industry to take advantage of Covid-19 BM DTP

The Ministry of Industry is determined to continue to maintain the productivity of the industrial sector in the midst of the pandemic in order to accelerate efforts to recover the national economy. So far, industrial activities have had a wide double effect, ranging from employment to foreign exchange earnings.

“Therefore, the government is committed to increasingly creating a conducive business climate for industry players in the country. This strategic step is for example through the provision of fiscal and non-fiscal incentives,” said Industry Minister Agus Gumiwang Kartasasmita in Jakarta, Wednesday (14/7).

The Minister of Industry explained that one of the fiscal incentives for the industrial sector to be encouraged was the Government Borne Import Duty (BM DTP) facility. This is because import duties are still the main component in the cost structure of domestic industry production, so relaxation related to import duties is able to encourage industrial growth and the national economy.

In an effort to encourage industry players to continue producing amid the pressure from the Covid-19 pandemic, the Ministry of Industry has proposed the provision of BM DTP Covid-19 facilities. This fiscal incentive is a special facility provided by the government during the Covid-19 pandemic to help accelerate the national economic recovery.

For 2021, the Covid-19 BM DTP facility is provided through PMK Number 68 of 2021 for 42 industrial sectors (including 1 industrial sector that produces services, namely the aircraft maintenance and/or repair industry, or the MRO industry) with a validity period June 22 to December 31, 2021 and a total limit allocation of IDR491 billion.

Source:https://www.idnfinancials.com/news/39783/ministry-industry-encourages-industry-advantage-covid-dtp