VAT

VAT

Foreign Exchange Rates for Import Duty, VAT/LGST, Export Duty, and Income Tax Settlement Period 12-18 August 2026

Minister of Finance Decree Number 37/MK/EF.2/2026 establishes the Foreign Exchange Rates (Nilai Kurs) as the basis for settlement of Import Duty, Value Added Tax on Goods and Services and Luxury Goods Sales Tax, Export Duty, and Income Tax applicable for the period of 12 August 2026 to 18 August 2026. This decree is part of the routine weekly mechanism of the Ministry of Finance to convert transaction values denominated in foreign currencies into Rupiah for the purposes of calculating customs and tax obligations. This decree lists exchange rates for 25 foreign currencies, including the US Dollar (USD) at Rp17,960.00, Euro (EUR) at Rp20,716.89, British Pound Sterling (GBP) at Rp24,172.99, Japanese Yen (JPY per 100) at Rp11,382.99, as well as other currencies such as Australian Dollar, Canadian Dollar, Danish Krone, Hong Kong Dollar, Malaysian Ringgit, New Zealand Dollar, Norwegian Krone, Singapore Dollar, Swedish Krona, Swiss Franc, Myanmar Kyat, Indian Rupee, Kuwaiti Dinar, Pakistani Rupee, Philippine Peso, Saudi Arabian Riyal, Sri Lankan Rupee, Thai Baht, Brunei Dollar, Chinese Renminbi, and Korean Won. For foreign currencies not listed, the decree stipulates that the applicable exchange rate is the daily spot rate of the relevant foreign currency in the international market against the US Dollar as of the previous business day's closing, multiplied by the Rupiah-to-USD exchange rate as established in this decree. This decree took effect from 12 August 2026 to 18 August 2026, and represents a continuation of the routine weekly exchange rate policy regularly issued by the Ministry of Finance based on various tax and customs legal foundations in force.