Indonesia to Tax Gold Exports in Push for Domestic Processing

Indonesia plans to start charging duties on exports of gold as soon as this month to capitalize on the precious metal’s meteoric price rally this year and encourage domestic processing.

Levies ranging from 7.5% to 15% will be imposed, with less processed variants subject to higher rates, according to senior Finance Ministry official, Febrio Kacaribu.Duties will also be adjusted in accordance with global gold prices, he said in Jakarta on Monday.

Indonesia has for years pushed to capture more value from its globally-used natural resources. Successive governments have banned exports of raw, unprocessed materials like nickel and copper, and ...