Indonesian gov t delays progressive tax on nickel exports as prices fall

The Indonesian government has postponed the imposition of export duties on commodities resulting from the processing of high-grade nickel ore. This comes after the government studied the downward trend in nickel prices that will continue until mid-2023. Export duties on high-grade nickel ore processed goods were previously planned to take effect this year. Septian Hario Seto, Undersecretary for Investment and Mining at the Coordinating Ministry of Maritime Affairs and Investment, said that the implementation of progressive taxes on the export of high-grade nickel derivatives such as nickel pig iron (NPI), ferronickel (FeNi) and matt nickel was associated with a sharp drop in nickel prices in the international market. nothing to do. "As for the export tariff plan, we will shelve it first because the current market conditions are very challenging," Seto was quoted by Nikel.co.id via the Bisnis.com page on Monday.