Jakarta, IDN Times – Airlangga Hartarto, the Coordinating Minister for Economic Affairs, has announced that the government will enforce a regulation mandating that 100 percent of export proceeds (DHE) must be deposited domestically for a period of one year. This regulation is set to take effect on March 1, 2025.
To implement this rule, Airlangga stated that the government will revise Government Regulation No. 36 of 2023 regarding Export Proceeds from the Management and/or Utilization of Natural Resources.
“In light of this policy, we will promptly revise PP No. 36, which will be enforced starting March 1 of this year,” Airlangga said during a press conference at the Presidential Palace in Jakarta on Tuesday, January 21, 2025.
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1. Bank Indonesia and OJK Prepare Regulations
Coordinating Minister for Economic Affairs, Airlangga Hartarto (IDN Times/Ilman Nafi’an)
Airlangga mentioned that Bank Indonesia (BI), the Financial Services Authority (OJK), along with banking institutions and Customs, are currently preparing a system to ensure that 100 percent of DHE is stored domestically for one year.
“Therefore, we will also conduct outreach to stakeholders,” he added.
2. DHE 100% Applies to All Exporters
Coordinating Minister for Economic Affairs, Airlangga Hartarto. (IDN Times/Vadhia Lidyana)
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During the briefing, Airlangga confirmed that the 100 percent DHE regulation will be applicable to all exporters. He noted that similar regulations have already been adopted by several other countries.
“We are certainly comparing ourselves with other nations, whether it’s Malaysia or Thailand,” he remarked.
Read Also: Despite Protests, Government Assures Export Proceeds Regulation Will Be Issued Soon
3. Incentives Offered
Minister of Economic Affairs Airlangga Hartarto (Photo: Kemenko Perekonomian)
The former Chairman of the Golkar Party indicated that Bank Indonesia has also prepared various incentives related to the 100 percent DHE regulation, such as a 0 percent income tax on interest income from export proceeds placement instruments.
“Normally, the regular tax rate is 20 percent, but for DHE, it is 0 percent,” he explained.
Additionally, exporters can access swap instruments with banks when they need rupiah for their business activities. Furthermore, exporters can utilize the DHE placement as collateral for back-to-back rupiah credit.
“For foreign exchange swaps between banks and BI, exporters may request banks to convert their DHE foreign exchange into a BI sell swap if they require rupiah for domestic business operations,” he stated.
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