Indonesia’s President Mulls Imposing Export Tax on Nickel to Boost Revenue
Indonesia’s president said Thursday that his government is considering imposing a tax on nickel exports this year to increase revenue and promote higher-value local manufacturing.
The nickel export tax is intended to “add value” to Indonesia, raise state revenues, and create more job opportunities for Indonesians, President Joko Widodo said in an interview with Bloomberg.
“That’s what we want also with bauxite, copper, tin, crude palm oil, and others,” Widodo was quoted as saying by the news outlet. “We are not being closed, we are being open indeed.”
Indonesia, once a major nickel ore exporter, banned exports of unprocessed nickel in 2020 to attract investment into its smelting industry. But most development has gone into producing nickel pig iron (NPI) and ferronickel, which have relatively low nickel content….