Indonesia increases import duties on bicycles, watches and cosmetics

Indonesia increases import duties on bicycles watches, cosmetics. - Vietnam News/ANN

JAKARTA (Vietnam News/ANN): Indonesia has placed new import duties on four types of products, with levies reaching some 40% of the product’s value in certain cases.

Under the Finance Ministry regulation No. 96/2023, starting from October 17, new import tariff ranges 10% to 15% for cosmetics, up to 20% for iron and steel, 25% to 40% for bicycles, and 10% for watches.