Official! Gold Tax Drops to 0.25 Percent

The government through the Ministry of Finance has officially reduced the gold bar tax levy to 0.25 percent. This is stated in the Regulation of the Minister of Finance (PMK) Number 48 of 2023 concerning PPh and/or PPN. Previously, gold was subject to Article 22 Income Tax (PPh) of 0.45 percent (02/05/2023).

“The amount of the Article 22 PPh levy as referred to in paragraph (4). It is 0.25 percent of the selling price of gold jewelry and/or the selling price of gold bars,” writes article 2 paragraph 5 of the regulation.

According to cnnindonesia.com, this regulation was promulgated on April 28 and became effective starting Monday (1/5). This regulation revokes PMK Number 30/PMK.03/2014. Not only that, this inauguration also partially revoked PMK Number 41/PMK.010/2022. From Article 1 paragraph (1) letter k, Article 2 paragraph (1) letter h, and Article 3 paragraph (1) letter i.

With this new rule, gold bar entrepreneurs are required to collect Income Tax Article 22 of 0.25 percent of the selling price. However, levies are excluded on sales to final consumers, taxpayers (WP) who are subject to final PPh according to PP Number 55 of 2022. WP also has a Certificate of Exemption (SKB) for PPh collection.

Other Regulations

Apart from that, this gold tax rate levy is also excluded from Bank of Indonesia (BI). This include sales through the digital gold physical market. This is regulated in the provisions of laws and regulations regarding commodity futures trading. This exception is stated in article 5 paragraph 1 and 2 of PMK Number 48 of 2023.

Previously, the rules regarding gold tax were regulated in PMK Number 34/PMK.010/2017. Collection of Income Tax Article 22 in Connection with Payments for Delivery of Goods and Activities in the Import Sector or Business Activities in Other Fields. In the policy, it is explained that the gold bar tax is set at 0.45 percent.