From 30% to 100%: Mandatory DHE SDA Deposits for Exporters Amended

In 2023, the government introduced a regulatory framework that specifically addresses foreign export proceeds (Devisa Hasil Ekspor – “DHE”) that derive from business, management and/or processing activities specifically related to natural resources (sumber daya alam – “SDA”) through the issuance of Regulation No. 36 of 2023 (“Regulation 36/2023”).[1] At its core, Regulation 36/2023 obliges all SDA exporters that generate revenue from the export of SDA-based goods (i.e. those operating within the mining, farming, forestry and fisheries sectors) (collectively referred to as “SDA Exporters”) to deposit their DHE SDA in specified minimum amounts for defined periods. Additionally, said DHE SDA must be placed into certain monetary and/or financial instruments (collectively referred to as “Instruments”).