Updated Export Duty Rates for Metal Mineral Products
- July 9, 2024
- Posted by: Administrator
- Category: Tax News
In order to support the downstreaming policy for metal mineral products, the Minister of Finance of the Republic of Indonesia (“MoF”) has issued Minister of Finance Regulation Number 38 of 2024 (“MoF-38”) concerning the Determination of Export Goods Subject to Export Duties and Export Duty Rates. MoF-38 replaces MoF Regulation No. 39/PMK.010/2022 (“MoF-39”) and its latest amendment, MoF Regulation Number 71 of 2023 (“MoF-71”).
MoF-38 has basically simplified and consolidated the previous related regulations. Thus, the norms and procedures in effect until the issuance of MoF-71 remain the same, except for the determination of export duty rates on processed metal mineral products, which are no longer based on the physical progress of the construction of refining facilities. The new export duty rates are directly stipulated in the annex of MoF-38 as follows:
| No | Description | Included in Rate Bracket | Export Duty Rete (%) |
| 1 | Copper concentrate with Cu content ≥ 15% | ex 2603.00.00 | 7,5 |
| 2 | Laterite iron concentrate (goethite, hematite, magnetite) with Fe content ≥ 50% and (Al2O3+SiO2) content ≥ 10% | ex 2601.11.10 ex 2601.11.90 ex 2601.12.10 ex 2601.12.90 |
5 |
| 3 | Lead concentrate with Pb content ≥ 56% | ex 2607.00.00 | 5 |
| 4 | Zinc concentrate with Zn content ≥ 51% | ex 2608.00.00 | 5 |
MoF-38 was issued on 31 May 2024 and has been effective since 3 June 2024.