08 August 2023
In response to the polemic related to the implementation of the new export duty tariff in Minister of Finance Regulation (PMK) Number 71 of 2023, Katri said that her side sees the possibility of lodging objections and appeals. PTFI perceives that there is a mechanism for submitting objections and appeals in the process of implementing the export duty. Additionally, pursuing this mechanism is considered a reasonable step, especially when there are differing viewpoints between customs authorities and business entities. "In relation to the context above, we understand the potential for raising objections and appeals, however, we still hope that the government will consistently apply the export duty provisions for PTFI in accordance with the jointly approved Special Mining Business License (IUPK),” Katri concluded.
Kontan noted PTFI assesses that this export duty policy has the potential to impact the company's net cash costs for the second semester of 2023. If later PTFI is subject to the new export duty provision, its estimated magnitude would be around 7.5%. “The imposition of a 7.5% export duty during the second half of 2023 will impact PTFI's net cash costs by $0.19 per pound of copper for the year 2023,” quoted from the 1st Semester 2023 Performance and Operational Report on Freeport McMoRan's (FCX) official website.
http://industri.kontan.co.id/news/freeport-ketentuan-bea-keluar-diatur-dalam-iupk
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