Article 22 Income Tax on Gold Bars

The government, through the MoF, has issued MoF Regulation Number 51 of 2025 (“PMK 51/2025”) as a new regulation regarding the collection of Article 22 Income Tax (PPh 22) on the import and sale of gold bars in Indonesia. This regulation came into effect on August 1, 2025, and is designed to align tax provisions with changes in the supervision of the gold bar industry, which is now under the Financial Services Authority (OJK/Otoritas Jasa Keuangan).

General key points that are regulated by this PMK are as follows:

• The purchase of gold bars from parties designated as tax collectors, namely financial service institutions engaged in the bullion (gold bar) business that have obtained permission from the OJK, is subject to a 0.25% rate.
• Additionally, the Directorate General of Customs and Excise is responsible for collecting Art. 22 Income Tax on the import of gold bars, at a rate of 0.25% of the import value.
• Exemptions from Art. 22 Income Tax are granted to transactions conducted by specific parties, including Bank Indonesia, government agencies, or parties with a Certificate of Exemption (SKB).

This regulation also specifies the procedures for appointing collectors, depositing and reporting, and the mechanism for tax exemption or refund in the event of overpayment or incorrect collection.