Airlangga Opens Up Opportunity to Grant Tax Incentives for the Gold Industry

Jakarta — Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto opened the door to tax incentives for the gold industry to strengthen the development of the bullion bank ecosystem in Indonesia. The government will continue to push for ease of doing business in the bullion sector while reviewing various taxation policies that could support the stability of gold values and the security of its storage. ‘We will see what other incentives we need to push so that this gold can be safeguarded in terms of value, while also being physically secure,’ Airlangga said at the Launch of the Indonesia Bullion Ecosystem Roadmap in Jakarta on Friday. Airlangga said strengthening the bullion bank ecosystem is expected to be utilised optimally to support sustainable economic growth. ‘With all these elements, the gold bullion that has been trailblazed can be utilised optimally to support sustainable economic growth,’ he noted. In addition to tax incentives, the Coordinating Minister also urged that more gold trading be conducted domestically. The policy aims to maintain the supply of raw materials for the national jewellery industry. ‘We are now pushing to trade gold domestically with export duties, and also to support the availability of raw materials for the jewellery industry,’ he added. Nevertheless, the tax incentives are still under study. The government will still seek input from industry players regarding the need for additional incentives. ‘Going forward, ask the business players whether they still need additional incentives or if it is already sufficient,’ he said. Airlangga also noted that the number of bullion bank customers has risen significantly over the past year, from 3.2 million people in February 2025 to 5.7 million people currently. Previously, the bullion bank service was officially launched by President Prabowo Subianto on 26 February 2025. At that time, PT Pegadaian and Bank Syariah Indonesia (BSI) were the first financial institutions to obtain permission to operate the service. ‘The amount pawned at Pegadaian, the value of gold pledged rose to 144.7 tonnes from 94 tonnes. Those who have utilised it as loans also rose by 38.5 tonnes or worth Rp102 trillion. Likewise at BSI it also rose, now reaching 22 tonnes,’ Airlangga said.