Antara News·Indonesia·Sunday, August 30, 2026 at 05:00 AM

Indonesia eases forex deposit rules for qualifying mining exporters

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Bayu Saputra, Tegar Nurfitra

Jakarta (ANTARA) - Indonesia is easing export-proceeds rules for qualifying mining companies, allowing them to retain at least 30 percent of natural-resource export proceeds for three months under a new provision.

Under Article 18A of Government Regulation No. 21/2026, eligible mining exporters can place at least 30 percent of their natural-resource export proceeds for three months, versus 100 percent for 12 months under general rules.

“The policy has three main goals: strengthen macroeconomic stability and domestic financial markets, support investment and working capital for downstream development, and boost investment and exports,” said Susiwijono Moegiarso, secretary of the Coordinating Ministry for Economic Affairs, in a statement here Sunday.

Based on export customs declarations from the Directorate General of Customs and Excise from March 2025 through July 2026, the government identified 537 tax identification numbers belonging to mining exporters.

After matching the data with the Directorate General of General Legal Administration, 64 tax identification numbers, or about 12 percent, met the criteria for the Article 18A facility.

The facility is optional and applies to mining exporters incorporated as limited liability companies, with at least one shareholder from an eligible partner country holding at least 10 percent of shares.

Susiwijono said the government had designated five partner countries: the United States, China, Hong Kong, Australia and Canada.

“These countries have the largest investments in Indonesia’s mining sector and bilateral trade agreements or other trade understandings with Indonesia,” Susiwijono said.

Besides easing the required amount and holding period, eligible exporters can place natural-resource export proceeds in foreign-exchange banks under the new facility.

The government has designated 15 foreign-exchange banks for special accounts under the facility, comprising five state-owned banks and 10 private-sector banks.

The special natural-resource export-proceeds facility will take effect on Sept. 1, 2026.

Eligible exporters that do not want to use the facility can opt out by submitting a statement to Bank Indonesia within five working days after the exporter list is announced.

Exporters that do not submit the statement will automatically be deemed to have chosen the special facility.

Exporters that do not use the facility will remain subject to general rules under Government Regulation No. 2/2026. Non-oil-and-gas mining exporters must place 100 percent of proceeds for 12 months, while oil-and-gas exporters must place at least 30 percent for three months.

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