Indonesia export tax ‘not immediately implementable’
May 08, 2012 | 02:46 AM
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Indonesia’s ban on raw materials exports may prove ineffective because it is not backed up by new laws to regulate it, industry and government sources said.
“The ban is in place, and all the producers that cannot meet the criteria stipulated by the energy and resources ministry effectively will not be allowed to export anymore from Sunday,” Syahrir Abubakar, executive director of the Indonesian Mining Assn, said.
“But is it immediately implementable? I don’t think so,” he said.
Indonesia’s government has tried to set out what should happen with raw material exports after months of uncertainty ahead of a May 6 deadline.
There is a general export ban, but companies who pass a government test of eligibilty will be allowed to export, albeit with a tax rate set tentatively at 20%.
That’s....
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