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View all search resultsGovt imposes gold export tax as prices surge to new high
Based on the new regulation, gold priced in the range of US$2,800 to $3,200 per troy ounce will face duties of 7.5 to 12.5 percent, with rates potentially rising to 10 to 15 percent.
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An employee displays gold bullion on Oct. 15 at the Setiabudi One Antam Gold Boutique in Jakarta. Global shifts have prompted Bank Indonesia (BI) to consider new strategies regarding its gold reserves. (Antara/Reno Esnir)
T
he government is set to impose new gold export taxes amid a surge in the metal’s price this year, which reached a fresh all-time high on Monday.
The gold export duties are stipulated under a new Finance Ministry regulation due to take effect on Dec. 23, as part of efforts to support the country’s mineral downstreaming program.
The export duties will be imposed based on the reference price set by the Trade Ministry and the type of gold product.
Gold priced in the range of US$2,800 to $3,200 per troy ounce will face duties of 7.5 to 12.5 percent, with rates potentially rising to 10 to 15 percent depending on the type of gold being exported.
The precious metal has hit multiple all-time highs in 2025, climbing more than 60 percent since the beginning of the year and reaching a peak of $4,383.76 in early trade on Monday.
The record-breaking figure followed a series of data releases last week that showed further signs of weakness in the United States labor market, fueling expectations of another interest rate cut by the central bank.
State-owned mining firm PT Aneka Tambang (Antam) also recorded a new high for its gold product at Rp 2.5 million ($149.38) per gram on Monday, marking a 64 percent year-to-date increase.
