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Government to issue new mineral export duty rate
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Finance Minister Sri Mulyani Indrawati greets House of Representatives members before a hearing with House Commission XI. (Antara/Puspa Perwitasari)
T
he government is set to issue a new regulation on raw mineral export duties, with the rate to be based on smelter development progress.
Discussions with the Energy and Mineral Resources Ministry have almost been finalized and the export rate will reflect the development of the downstream industry, according to Finance Minister Sri Mulyani.
"We will issue it soon," she said after appointing new Finance Ministry officials in Jakarta on Monday.
Currently the raw mineral export rate is still based on a 2014 Finance Ministry regulation that is divided into three layers. Sri Mulyani has indicated that the layer system might be retained, but the number of layers would be changed.
(Read also: Energy minister reported over mineral export ban relaxation)
Under the regulation that is set to be issued, if smelter progress has reached more than 30 percent, export duty will be 0 percent, while if the progress is between 7.5 and 30 percent the duty will be 5 percent, and for 0 to 7.5 percent progress, the duty will be 7.5 percent.
"We will inform you later when it is already complete," the minister said.
Previously the ministry's fiscal policy agency head Suahasil Nazara said the basic raw minerals duty would be 10 percent, and would be reduced based on the progress of smelters. (bbn)
