- The Minister of Finance has issued Regulation No. 73 of 2023 on the Imposition and Revocation of Administrative Sanctions for Violations of Provisions on Export Proceeds (Devisa Hasil Ekspor – "DHE") from the Exploitation, Management and Processing of Natural Resources (Sumber Daya Alam – "SDA"), which comes into force on 1 August 2023.
- Exporters that engage in the mining, plantations, forestry and fisheries sectors are now required to deposit DHE SDA within the Indonesian financial system for subsequent use in relation to payments of: 1) Export duties and other levies that apply within the export sector; 2) Loans; 3) Imports; 4) Profits/dividends; and/or 5) Other relevant payments.
- In the event that payments are to be completed through escrow accounts, then the relevant exporters will be required to open escrow accounts or, if such accounts have already been opened overseas, then their contents must be transferred to the Indonesian financial system. If relevant parties do not comply with this obligation, then the Directorate-General of Customs and Excise may impose administrative sanctions in the form of suspensions of export services. The imposition and revocation of said suspensions can be implemented in accordance with the relevant laws and regulations on customs.
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