- The Minister of Finance ("Minister") has set the applicable export prices which should be used to calculate export duty on certain commodities through the issuance of Decree No. 21/KM.4/2024 ("Decree 21/2024"), which will remain in force between 1 June 2024 and 30 June 2024. However, the various export prices outlined under Decree 21/2024 will extend beyond this timeframe if new export prices have yet to be determined.
- Outlined comprehensively under Appendix A to Decree 21/2024, the applicable export prices for calculations of export duty on wood now break down as follows: 1) Veneer (ranging from US$ 550/M³ - US$ 800/M³); 2) Wood in chip or particle form (US$ 80/ton); 3) Chipwood (US$ 95/ton); and 4) Processed woods (US$ 500/M³ - US$ 4500/M³). Meanwhile, the export prices for leather commodities break down as follows: 1) Raw animal hides and skins (US$ 2.98 - US$ 5.81, as measured by the kilogram or piece); 2) Preserved animal hides and skins (US$ 1.10 - US$ 1.80 per square foot); and 3) Wet blue (US$ 1.20 - US$ 1.90 per square foot).
- In addition, Appendix B to Decree 21/2024 also sets an applicable export price of US$ 7,825 for calculations of export duty on cacao beans.
- However, the applicable export-duty tariffs for palm oil, cacao beans and crude palm oil (CPO) and its derivatives should be determined based on reference prices stipulated by the Minister of Trade.
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