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Indonesian government: revised Minerba Act proposes to increase taxes on smelting enterprises
May 12,2020 14:22CST
translation
The content below was translated by Tencent automatically for reference.

SMM5: according to Indonesian media reports, the Indonesian government will formulate a revised version of the "Minerba Act", the revised version of the new "Minerba Law" will provide a higher share of mining revenue for the regional government (pemda) in the future, and the local government will receive 1.5% tax.

(Panja) Bambang Wuryanto, chairman of the working committee to amend the mineral and coal mining law (Minerba), explained that the law initially accounted for 1 per cent of mining activities. In this revision, the rule will give half of 1%. "judging from the results of mining activities, with regard to the share of regional governments, if the previous provincial government had only received 1%, it would have increased to 1.5% through this bill."

It is reported that Law No. 4 of 2009 (on minerals and coal) provides for profit distribution, under which holders of special mining business licenses for the production of metal minerals and coal mines must pay 4 per cent of the net profits since production to the government and 6 per cent to the regional government. This part of the local government is broken down, that is, 1% of the provincial government, 2.5% of the production district / municipal government, and 2.5% of the other district / municipal government.

At today's meeting, the Democratic Party and the government will adopt a first-tier decree on the Minerba Act. If an agreement is reached, the bill will soon pass through the plenary meeting of the DPR.

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