to Indonesian
In the framework to reduce the administrative burden to exporters who received DHE and Foreign Exchange Bank as the receiving party of the information and data of DHE receipt from the Exporter, it is necessary to improve the provisions of Bank Indonesia Regulation Number 13/20/PBI/2011 concerning Receipt of Export Proceeds and Withdrawal of Foreign Exchange from External Debt.
Improvement of the provisions including related with the obligation of Exporter to submit a written explanation and supporting documents in case there is less between the DHE value and the PEB value and time limit for the DHE receipt derived from the PEB issued in 2012. These changing of provisions are expected to facilitate the implementation of this Bank Indonesia Regulation by the Exporter and Bank.
Number 1
Self-explanatory.
Self-explanatory.
The explanation of the difference between the DHE value and PEB value and type of supporting documents refer to the Circular Letter of Bank Indonesia.
Supporting documents are deemed appropriate if they can prove the less difference between the DHE value and PEB value.
Letter a
Self-explanatory.
Letter b
What is meant by "order service" is giving order of service in the framework to process the completion of certain goods which is processed by service provider (outsourced), and service users define specifications and provide raw materials and/or semi finished goods and/or auxiliary materials to be processed partly or wholly, the ownership of goods is at the service user.
Self-explanatory
Self-explanatory.
Number 2
Examples of the receipt of DHE agreed not through the Foreign Exchange Bank and/or associated with the payment of liability of the Exporter:
Exporter PT. D obtains long-term loan from a syndicate of a number of overseas bank valuing USD500,000,000.00 (five hundred million US Dollars) in February 2010 with a clause as follows:
Mechanism of DHE receipt associated with The Exporter’s obligations payment as an example of the above agreement is only allowed until December 31, 2012.
Since January 1, 2013, exporters are obliged to receive all DHE through Foreign exchange banks. Installments of principal and interest of the loan which was originally retained in KLM Bank in the amount of $ 4,375,000.00 (four million, three hundred and seven seventy-five thousand U.S. dollars) from the income of exports each month, is paid after all DHE is received through foreign exchange banks.
Supporting documents include photocopy of the agreement contract related with DHE receipt is not through Foreign Exchange Bank or which is related to payment obligation of Exporter.
Submission of written explanation and supporting documents are addressed to:
Bank Indonesia
Department of Economic and Monetary Statistics
Sjafruddin Prawiranegara Tower 16th floor
Jl. M.H. Thamrin Number 2
Jakarta Pusat 10350
Example 1:
For Export with PEB date of 2 January 2012, receipt of DHE through the Foreign Exchange Bank is no later than July 31, 2012.
Example 2:
For Export with PEB date of 31 December 2012, receipt of DHE through the Foreign Exchange Bank is no later than June 30, 2013.
Examples of receipt of DHE derived from netting the bill with Exporter obligations:
In March 2012, PT. E acknowledges the debt of import transactions in the amount of USD1,000,000.00 (one million US dollars) and accounts receivable upon Export transactions amounting to USD1,250,000.00 (one million two hundred and fifty thousand US Dollars) to M company in Malaysia. Debt falls due in May 2012 and both parties agreed on payment by netting mechanism in which the only difference from those debts which will be paid.
In the example case above, PT. E will receive USD250,000.00 (two hundred and fifty thousand US Dollars) from the M company. During 2012, netting transaction is still allowed and the DHE value that must be received through the Foreign Exchange Bank is in the amount of USD250,000.00 (two hundred and fifty thousand US Dollars). Starting 1 January2013, netting is not allowed.
Supporting documents include a photocopy of purchase order, sales contract, and/or documents related to account receivable settled by netting between the Exporter with other parties.
PT. F obtained ULN in the form of the loan agreement from PQR creditors in the amount of USD100,000,000.00 (one hundred million US Dollars), signed on August 26, 2010 with a due date of August 26, 2015. On September 25, 2012, agreement was modified by raising the ULN ceiling becomes USD150,000,000.00 (one hundred and fifty million US Dollars).
In the example case above, the DULN withdrawal upon the additional ceiling of ULN in the amount of USD50,000,000.00 (fifty million US Dollars) must be conducted through a Foreign Exchange Bank.
Number 3
Self-explanatory.
Self-explanatory
SUPPLEMENT TO STATUTE BOOK OF THE REPUBLIC OF INDONESIA NUMBER 5338