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previously registered as a foreign branch, modified its legal status to a Limited Liability Company and merged with an area bank subsidiary which it had bought in00 Shipments from FTZs and SEZs to different locations within the Indonesia customs area are handled equally to exports and are topic to taxes and duties. Under MOF Regulation a hundred and twenty/201, bonded zones have a home gross sales quota of fifty p.c of the previous realization amount on export, sales to different bonded zones, sales to free commerce zones, and gross sales to different economic areas . Sales to different particular financial areas are solely allowed for additional processing to turn out to be capital items, and to corporations which have a license from the economic space organizer for the products related to their The hottest product the skull crow all over printed hawaiian shirt enterprise. Indonesia presents quite a few incentives to foreign and domestic corporations that operate in particular economic and trade zones throughout Indonesia. The largest zone is the free commerce zone island of Batam, positioned just south of Singapore. Neighboring Bintan Island and Karimun Island additionally enjoy FTZ status. Investors in FTZs are exempted from import responsibility, revenue tax, VAT, and sales tax on imported

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