The Indonesian government may tax processed nickel exports to boost state revenue and gain downstream policy advantages. The plan, developed last year, will be implemented this year while monitoring nickel prices. Now is the time to apply nickel derivative product export taxes or levies, according to INDEF Executive Director Tauhid Ahmad. With downstream nickel exports at US$34.3 billion or Rp. 510.1 trillion in 2022, the export tax on nickel derivative products might generate significant revenue.The state needs more tax money due to declining tax receipts. Tax revenue climbed 3.7% annually from January to July 2023; however, export duty revenue fell due to rising commodity prices. July 2023 export tax receipts were IDR 5.86 trillion, down 81.34 percent year over year.Senior economist Faisal Basri questioned the state's limited nickel downstream revenue, noting that China makes more money from it while adding only 10% to the GDP. The government rejected this, saying it receives IDR 17.96 trillion in tax revenue from the nickel downstream industry, up 10.8 times from 2016. The 20-year tax holiday applies only to investments of IDR 30 trillion or more, and additional taxes must be paid.Link di fonte: https://www.kompas.id/baca/ekonomi/2023/08/13/penerimaan-negara-melambat-saatnya-pajak-ekspor-turunan-nikel-diterapkan (ICE GIACARTA)

Fonte notizia: Kompas - 14 August 2023