- The Minister of Finance (“Minister”) has introduced a new set of export prices which can be used to calculate export duties on several commodities through the issuance of Decree No. 44/KM.4/2024 (“Decree 44/KM.4/2024”), which will remain valid during the 1 October - 30 October 2024 period. However, the various export prices included under Decree 44/KM.4/2024 will continue to apply beyond this stipulated validity period if a new list of export prices has not yet been issued.
- Outlined comprehensively under Appendix A to Decree 44/KM.4/2024, the export prices that are now applicable for calculations of wood export duties break down as follows: 1) Veneer (US$ 701/m³ - US$ 790/m²), 2) Wood in chip or particle form (US$ 90/ton), 3) Chipwood (US$ 80/ton) and 4) Processed Wood (US$ 314/m³ - US$ 3444/m³). Meanwhile, the export prices for leather commodities now break down as follows: 1) Raw animal hides and skins (US$ 2.98 - US$ 581, measured per kilogram or piece), 2) Preserved animal hides and skins (US$ 1.10 - US$ 1.80/square foot); and 3) Wet blue (US$ 1.20 - US$ 190/square foot).
- Moreover, Annex B of Decree 44/2024 sets an export price of US$7,167 that is applicable for calculations of export duty on cacao beans. In addition, Annex C of Decree 44/2024 also sets applicable export prices for calculations of export duties on 269 commodities that derive from the processing of metals and metallic minerals and that meet certain criteria (e.g. copper concentrate, laterite iron concentrate, lead concentrate and zinc concentrate), which range from US$ 16.17/WE to US$ 6,223.88/WE.
- It should be noted that the export duty rate applicable to palm oil, cocoa beans, crude palm oil (CPO) and their derivatives must be set based on the reference price set by the Minister of Finance.
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