The Minister of Finance (“MoF”) has issued Decree No 29/KM.4/2022 (“KMK-29”) regarding the Second Amendment to MoF Decree No. 28/KM.4/2022 (“KMK-28”) concerning “Determination of Export Prices for the Calculation of Export Duties”. KMK-29 became effective from 1 September 2022 until 30 September 2022.  The Export Prices remain valid for calculating export duties until a new Export Prices regulation is issued.

The highlights of the changes under KMK-29 are as follows:

1. Changes in the determination of export price for export goods in the form of Veneer Wood, Wood Chips, Processed Wood, and skin;
2. Changes in the determination of export prices for export goods in the form of cocoa beans;
3. Changes in the determination of export prices for export goods in the form of processed metallic mineral products and metallic mineral products with certain criteria;
4. Changes in the guidelines for the types of export goods that are subject to export duties, including the amount of export duty tariff referring to the Attachment of MoF Regulation 123/PMK.010/22 (“PMK-123”) regarding the Second Amendment to Regulation of the Minister of Finance Number 39/PMK.010/22 concerning Decisions on Exported Goods Subject to Export Duties and Export Duty Tariffs. Please refer to our Tax Update of August 2022; and
5. For the second amendment of PMK-39, please refer to our Tax Update of July 2022.

The following are some changes in export prices between: KMK-29 and KMK-28:

For other changes in export prices, see the Attachment of KMK-29.