REGULATION OF THE MINISTER OF FINANCE
No. 75/PMK.011/2007

CONCERNING
STIPULATION OF RATES OF IMPORT DUTY IN THE FRAMEWORK OF
ASEAN-KOREA FREE TRADE AREA (AK-FTA)

THE MINISTER OF FINANCE,

Considering:

a. that in the framework of economic corporation between ASEAN member countries and the Government of Korea Republic{ Framework Agreement which has been ratified by Government of Indonesia Republic according with President Regulation No. 11/2007 regarding Legalization of Framework Agreement On The Comprehensive Economic Co-Operation Among The Government of The Members Countries of The Association of South East Asian Nations and The Republic of Korea has been stipulated;
b. that following the signing of Trade Agreement in Goods among ASEAN member countries and the Government of Korea Republic (Agreement on Trade in Goods) dated August 24, 2006, which has been ratified with President Regulation No. 12/2007 concerning Legalization of Agreement on Trade in Goods Under The Framework Agreement On The Comprehensive Economic Co-Operation Among The Government of The Members Countries of The Association of South East Asian Nations and The Republic of Korea, it is necessary to stipulate rates of import duty in the framework of ASEAN-Korea Free Trade Area (AK-FTA);
c. that according to the considerations as referred to in sub-paragraphs a and b it is necessary to stipulate a regulation of the Minister of Finance regarding Stipulation of Rates of Import Duty in the Framework of ASEAN-Korea Free Trade Area (AK-FTA);

In view of:

1. Law No. 10/1995 concerning Customs Affair (Statute Book Republic of Indonesia Year 1995 No. 751 Supplement to Statute Book No. 3612) as has already been amended with Law No. 17/2006 (Statute Book Republic of Indonesia Year 2006 No. 931 Supplement to Statute Book No. 4661);
2. Presidential Regulation No. 11/2007 concerning Legalization of Framework Agreement On The Comprehensive Economic Co-Operation Among The Government of The Members Countries of The Association of South East Asian Nations and The Republic of Korea (Statute Book Republic of Indonesia Year 2007 No. 51);
3. Presidential Regulation No. 12/2007 concerning Legalization of Agreement on Trade in Goods Under The Framework Agreement On The Comprehensive Economic Co-Operation Among, The Government of The Member Countries of The Association of South East Asian Nations and The Republic of Korea (Statute Book Republic of Indonesia Year 2007 No. 52);
4. Presidential Decree No. 20/P/2005;
5. Decree of the Minister of Finance No. 101/KMK.05/1997 concerning Customs Declaration already amended several times and the latest with Regulation of Finance Minister No. 48/PMK.04/2005;
6. Decree of the Minster of Finance No. 453/KMK.04/2002 concerning Customs Procedure in the Import Field as has already been amended several times and the latest with Decree of the Minister of Finance No. 112/KMK.04/2003;
7. Regulation of the Minister of Finance No. 110/PMK.010/2006 concerning Stipulation of Classification Systems of Goods Classification and Imposition of Import Duty on Imported Goods;

HAS DECIDED:

To stipulate:

THE REGULATION OF THE MINISTER OF FINANCE CONCERNING STIPULATION OF RATES OF IMPORT DUTY IN THE FRAMEWORK OF ASEAN-KOREA FREE TRADE AREA (AK-FTA).

Article 1

To stipulate the rates of import duty on goods imported from Korea Republic and ASEAN countries in the framework of ASEAN-Korea Free Trade Area (AKFTA) as set forth in the attachment to this regulation.

Article 2

The rates of import duty as referred to in Article 1 are stipulated with the provision as follows:

a. Based on reciprocal principle;
b. Only effective for imported goods accompanied by Certificate of Origin (Form AK) which has been signed by an authorized official;
c. Certificate of Origin (Form AK) as referred to in sub-paragraph b is not needed, in case the rate of import duty in the framework of ASEAN-Korea Free Trade Area (AK-FTA) is higher or equal to the rate of import duty effective generally;
d. Importer are obliged to mention facility code of Tariff Preference and reference number of Declaration (Form AK) on Customs Declaration; and
e. Original sheet and third sheet of Declaration (Form AK) must be submitted by importer to Head of Customs and Excise Service Office at the importing port upon applying for Import Declaration (PIB).

Article 3

The provision in this Regulation of the Minister of Finance shall be effective for imported goods whose Import Declaration (PIB) has received registration number from Customs and Excise Service Office at the importing port as from the date of stipulation of this regulation.

Article 4

Director General of Customs and Excise be instructed to execute the provision of this regulation of the Minister of Finance.

Article 5

This regulation of the Minister of Finance shall come into force on July 1, 2007.

For Public cognizance, this regulation of the Minister of Finance shall be published Statute Book of the Republic of Indonesia.

Stipulated in Jakarta
On July 3, 2007
THE MINISTER OF FINANCE
signed,
SRI MULYANI INDRAWATI

REGULATION OF THE MINISTER OF FINANCE No. 75/PMK.011/2007

CONCERNING STIPULATION OF RATES OF IMPORT DUTY IN THE FRAMEWORK OF ASEAN-KOREA FREE TRADE AREA (AK-FTA)