Indonesia Sets New Tax Rates for Mineral Exports

A worker poses with a handful of nickel ore at the nickel mining factory of Vale Indonesia, near Sorowako, Indonesia's Sulawesi island, in this Jan. 8, 2014 file photo. (Reuters Photo/Yusuf Ahmad)

By : Gayatri Suroyo | on 7:16 PM February 13, 2017
Category : Business, Commodities

Jakarta. Indonesia has set export taxes of up to 7.5 percent for semi-processed metals including lead, zinc, iron and copper concentrate, the finance ministry said on Monday (12/2), with rates depending on progress companies make in developing smelters.

"The more advanced the physical development of processing facilities, the lower the export tax rate that will be applied," the ministry said in a statement.

For nickel ore with a nickel content of less than 1.7 percent and for bauxite with an aluminium oxide content of at least 42 percent, a flat rate of 10 percent will apply, it said.