Indonesian government intends to adjust the export tax rate

  According to Indonesia, "Jakarta post" reported on January 24th, Treasury Secretary Mu Liyani said Indonesia before the government will soon introduce mineral export tax regulations, tax rates determined according to the progress of the construction of the smelter exporters. If the smelter construction progress of more than 30%, will be exempted from export tax; construction progress of 7.5%-30% or less than 7.5%, export tax rates were 5% and 7.5%. It is reported that, in view of the miners generally did not achieve a government set up ore smelting works to improve the additional value of the export to the Indonesian government in 2017 promulgated the statute No. first, No. twenty-third government regulations revised mineral and coal mining regulations, allowing domestic mining enterprises can export copper concentrate, a certain amount of low grade ore and processed bauxite so concentrate, but must be contract work permits to change the special mining license (IUPK). Enterprises with special mining permits will be required to complete the construction of the smelter within five years, and the government will supervise the construction process of the smelter. In addition, the holders of special mining licenses of foreign mining companies also need to commit to 10 years after the production of the company's shares sold to the government to continue to export 51%. If the enterprise insists on the use of the contract license, it is necessary to allocate the capital to build the smelter immediately.