Tax Exchange Rate (Kurs Pajak)
The tax exchange rate is the rate set weekly by the Minister of Finance and used to convert a customs value in foreign currency into rupiah. In customs practice it is also known as NDPBM. The applicable rate is the one in force on the date of the customs declaration, not the bank rate used to pay the supplier. Exchange-rate differences can shift levies noticeably on high-value imports. The official rates are published on the BKF Ministry of Finance website.
Related terms
- Customs Value
Customs value is the value of imported goods on which import duty is calculated.
- Import Duty
Import duty is the state levy on imported goods, calculated as the BTKI 2022 rate times the customs value.
- Import Declaration (PIB, BC 2.0)
The PIB is the customs declaration for goods imported for domestic use, form code BC 2.0.