Dear valued Customer,
We refer to Bank Indonesia Regulation No. 14/25/PBI/2012 dated 27 December 2012 (“Regulation”) complementing Bank Indonesia Regulation No. 13/20/PBI/2011 and its amendment No. 14/11/PBI/2012 on Receipt of Export Proceeds and Withdrawal of Foreign Exchange from External Debt which requires export proceeds to be received through a foreign exchange bank in Indonesia along with its related reporting requirement.
For ease of reference, the following is summary of the changes of the requirements under the Regulation compared with the previous regulations. Please also be advised that such changes are effective as from 01 January 2013 :
|Reporting time :
Exporters are obliged to report the detail of the incoming funds including the supporting documents (if required) within reporting date line
|3 working days upon receipt||at the latest on the 5th of the following month upon receipt|
|PEB amount :
Reporting required for
|Setiap jumlah||Hanya PEB yang di atas USD 10.000 (setara)|
|Tolerance amount :
Supporting document and declaration form is mandatory should the incoming funds is less than the PEB amount up to the tolerance amount
|Rp 10 milion (equivalent), max 10% from PEB amount||Rp 50 milliion (equivalent), max 10% from PEB amount|
|Netting||Is not allowed in 2013||Allowed as long as the netting is for import payment related to the export activities and there is prior agreement between the exporters and its importers counterparty|
It is HSBC’s commitment to provide best class of product and services to its customer, hence, to ensure full compliance to the Regulation; HSBC will proactively send email notification to your registered email address for each incoming transfer to your account exceeding USD 10,000 (equivalent). Your cooperation is highly appreciated by completing the Customer Declaration Form and returning it back to us via email to firstname.lastname@example.org within the time frame mentioned in the Customer Declaration Form. Please take note that HSBC’s Customer Declaration Form will serve the reporting requirement for both export proceeds and foreign exchange flow.
Please ensure that you update your latest email address or any changes required by contacting your Relationship Manager or HSBC Corporate Call Centre at 021 2551 4777.
The Hongkong and Shanghai Banking Corporation Limited, Indonesia