TechFlow, November 17 — Febrio Kacaribu, Director General of Fiscal Strategy at Indonesia's Ministry of Finance, said on Monday that Indonesia is finalizing plans to impose an export tax of 7.5% to 15% on gold products, which will be implemented at some point next year. He stated during a parliamentary hearing that the tax policy is designed to apply higher rates on upstream products and lower rates on processed goods to encourage domestic processing. For example, the tax rate for gold ore would be higher, while that for minted gold bars would be lower. He added that international gold prices will also be a factor in determining the export tax. As for the government's plan to tax coal exports, it is still under discussion. (GoldTouch)
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