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KADIN INDONESIA

Indonesian Chamber of Commerce and Industry

KADIN INDONESIA

Indonesian Chamber of Commerce and Industry

Kadin Jakarta: Exporters Still Reviewing Tax Incentives for Placement of DHE SDA

Chair of Kadin Jakarta Diana Dewi said that exporters are still reviewing the offer of tax incentives for the placement of foreign exchange proceeds from natural resource exports (DHE SDA) in certain monetary and / or financial instruments in Indonesia, as stipulated in Government Regulation (PP) Number 22 of 2024. This regulation is the government's effort to maintain the availability of foreign exchange in the country by providing tax incentives.

In general, PP No. 22 of 2024 stipulates that exporters who place DHE SDA in domestic banks in the initial form (forex) will be given a final tax rate of 0 percent (if placed for more than 6 months); 2.5 percent rate (placement of 6 months); 7.5 percent rate (placement of 3 - 6 months); and 10 percent (placement of 1 - 3 months).

"Kadin as a forum for entrepreneurs in principle supports government policies. However, everything returns to the policies of each company. Because in my opinion, the offer will still be reviewed by exporters, whether it can be followed or how. Because, it is likely that exporters are faced with limited cash flow problems, especially for operational costs. If that happens, it will certainly make it difficult for exporters,” said Diana.

She said, the government is expected to conduct an evaluation, mainly related to the ease of conversion into rupiah so as not to use the United States dollar (US) for the calculation of export proceeds deposits. In addition, regulatory optimization is expected to be more beneficial to exporters and give them the confidence to place their DHE in domestic banks rather than abroad.

“The government can also evaluate Government Regulation Number 36 of 2023 concerning Foreign Exchange of Export Proceeds from Natural Resources Exploitation, Management and Processing Activities, where so far the response of exporters is still relatively minimal,” said Diana.

In her view, this can be proven by the weakening of the rupiah exchange rate and foreign exchange reserves which tend to decline.

"While foreign exchange reserves are still weak or down 7.53 percent compared to the first quarter of 2023. This will be a consideration for exporters to be able to place DHE SDA in domestic banks,” she said.

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KADIN INDONESIA

Indonesian Chamber of Commerce and Industry