The policy will apply to both domestic gold transactions and imports, while end consumers will be exempt.
The policy has been outlined in the Minister of Finance’s Regulation (PMK) No. 51 of 2025 and PMK No. 52 of 2025, which were enacted on July 28.
At a media briefing in Jakarta on Thursday, director general of taxes at the ministry, Bimo Wijayanto, informed that the regulations aim to prevent overlapping tax collections on gold transactions conducted by bullion banks.
Earlier, there was no specific regulation governing Article 22 income tax on bullion banking activities. As a result, PMK No. 48 of 2023 and PMK No. 81 of 2024 were referred for transactions.
However, the provisions in those regulations created a double-taxation issue.
Under PMK 48 of 2023, gold sellers charged 0.25 percent Article 22 income tax on sales to bullion banks. Meanwhile, PMK 81 of 2024 required bullion banks to charge 1.5 percent Article 22 tax on the same transaction.
Additionally, the prior regulation allowed the grant of exemption certificates (SKB) on gold bullion imports, creating an imbalance between domestic and imported purchases.
Under the new PMK 51 of 2025, the government has designated bullion financial institutions as collectors for Article 22 income tax, with the tax on gold bullion purchases, excluding value-added tax (VAT), fixed at 0.25 percent.
Transactions valued at Rp10 million or less will be exempt from the tax.
The government has also done away with the tax exemption scheme for bullion imports. Thus, imported gold bullion will now be taxed under the same scheme as domestic purchases.
“The tax burden on financial institutions will be reduced with the new 0.25 percent rate, down from the previous 1.5 percent,” Wijayanto informed.
Meanwhile, PMK 52 of 2025 regulates specific exemptions from Article 22 income tax on gold transactions.
The tax will not apply to sales of gold jewelry or bullion to three groups: end consumers, micro and small business taxpayers subject to final income tax, and taxpayers holding exemption certificates (SKB Article 22).
Similar exemptions will also apply to gold bullion sales to Bank Indonesia via digital gold markets and to bullion financial institutions.
“There are exemptions. If it’s sold to end consumers, it’s not taxed. For example, Antam sells to end consumers like housewives -- that’s not taxable. But tax applies to traders or manufacturers,” director of tax regulations I at the Directorate General of Taxes, Hestu Yoga Saksama, explained.
PMK 51 of 2025 and PMK 52 of 2025 were signed by Minister of Finance Sri Mulyani Indrawati on July 25, 2025. The regulations take effect on August 1.
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Translator: Primayanti
Editor: Yuni Arisandy Sinaga
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