INDONESIA INTRODUCES DUTIES ON EXPORTS OF MINERAL RESOURCES
The Indonesian government, despite the protests of the market, is going to introduce a new system of taxation of export of raw minerals.
The government argue the need for export duty avoidance of excessive use of mineral resources of the country before the introduction of the 2014 ban on the export of raw minerals.
Under the new law, Rudar will have to build new smelters or establish cooperation with foreign companies for the purpose of processing of mineral ores for export. In addition, the mining companies will need to obtain an export permit only after approval by the government.
At present, the application filed 154 mining company, and the number is growing, which means that members of the industry are adopting new rules.
