Indonesia to Start Charging Gold Export Duties to Build Stockpile

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.