TEMPO.CO, Jakarta – The Indonesian government will impose an export duty on gold exports starting next year. The Minister of Finance’s regulation that sets the tariff for these commodities will be issued in November 2025.
The Director General of Economic and Fiscal Strategy at the Ministry of Finance, Febrio Kacaribu, stated that the discussion regarding the implementation of the policy is almost finalized, making it a potential additional source of state revenue.
“The Minister of Finance regulation for the imposition of export duty on gold is at the final stage of the process,” he said during a meeting with the House of Commission XI (DPR) in Senayan, Jakarta, on Monday, November 17, 2025.
According to Febrio’s presentation, the export duty will be imposed on several commodities, including dore, granules, and gold ingots or cast bars, as well as minted bars. The tariff amount will be determined based on the world gold price or the reference mineral price (HMA), ranging from 7.5 to 15 percent.
The Minister of Finance plans to issue the regulation in November 2025, to take effect two weeks after its official establishment. This time frame is set aside for preparing for field implementation and drafting the Minister of Trade regulations and decisions related to the benchmark export price (HPE) of gold.
The export duty on gold commodities also aims to support domestic downstream programs. Febrio stated that the current gold price has risen significantly. In the fourth quarter of 2025, it has even reached above US$4,000 per troy ounce. “Thus, we need to ensure that as much gold supply as possible is available domestically,” he said.
In addition to promoting downstream and smelters, the government also considers the emerging bullion bank ecosystem. He mentioned that society has already benefited from it, so there should be more gold liquidity in the country.
The Ministry of Finance has received reports that public demand for gold is high, yet it is currently difficult for people to obtain it. Meanwhile, Indonesia ranks fourth in the world’s gold reserves.
“Hence, we want the production to be in Indonesia and the gold liquidity to circulate widely in Indonesia. The added value should be enjoyed by the Indonesian people as much as possible, creating economic growth and job opportunities,” said Febrio.
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