The government has recently issued a new regulation on export pricing for the calculation of export duties. These provisions are outlined in the Minister of Finance Decree No. 4/KM.4/2021 (MoF Decree 4/2021) concerning the Stipulation of Export Prices for the Calculation of Export Duties.

This regulation sets forth export prices for certain exported goods. First, the export prices for exported goods in the form of wood and leather as listed in Appendix A of MoF Decree 4/2021. Second, the export prices for exported cocoa beans as outlined in Appendix B of MoF Decree 4/2021. Third, export prices for export goods in the form of metal mineral processing products and metal mineral products with certain criteria as listed in Appendix C of MoF Decree 4/2021.

Moreover, the Government has also set a reference price for parties that carry out government affairs in the trade sector. First, the reference price for palm oil, crude palm oil (CPO), and the derivative products and mixed products of CPO and its derivatives of USD1,026.78/MT. Second, the reference price for cocoa beans is USD2,537.37/MT.

The types of exported goods subject to export duties and the export duty rates are listed in Appendix II of this regulation. This regulation shall be valid from 1 February 2021 to 28 February 2021. On a special note, if this regulation expires and is not renewed, the export prices under this regulation shall remain in effect as the basis for calculating the export duties until new export prices are set.

The Latest Regulation on Export Prices for the Calculation of Export Duties