Regulation of the Coordinating Minister for Economic Affairs No. 16 of 2022 on Guidelines for the Implementation of Commodity Balances
Enforcement Date: 6 October 2022
- Guidelines for the implementation of commodity balances (“Guidelines”) serve to clarify the implementation of commodity balances and will act as a reference for relevant parties in relation to various matters, including: 1) Business actors that are drafting demand plans and import-export-related permits; 2) Relevant government and non-governmental agencies that are looking to determine and verify supply and demand plans; 3) The National Single Window agency during the organization of the National Commodity Balance System (Sistem Nasional Neraca Komoditas – “SINAS NK”); and so forth.
- Import-export approvals may only be issued after the relevant commodity balances have been determined, while said approvals will be applicable in accordance with the relevant commodity balance validity periods during the course of a given one-year period.
- Business actors should create accounts within the Indonesia National Single Window (“INSW”) system in order to secure access rights to SINAS NK. While only importers and exporters are obliged to open such accounts, other business actors may also create accounts within the INSW system in order to implement import-export policies.
- Demand plans should be prepared by business actors through the filling out of demand plan proposals via the SINAS NK platform during the September prior to the commencement of the validity period of the relevant commodity balance at the latest.
- More information on this regulation is provided in Hukumonline’s publication titled “Guidelines for the Implementation of Commodity Balances Introduced”, as accessible to Hukumonline’s subscribers. For more details on the subscription, please contact Hukumonline’s team at marketing@hukumonline.com.
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