Antam CEO Seeks DPR Support, Highlights Silver Tax and Gold PPh Disparity

Jakarta, CNBC Indonesia - The President Director of PT Aneka Tambang Tbk (Antam), Untung Budiharto, has requested support from the House of Representatives’ Commission VI to strengthen downstreaming policies and refine regulations. This is particularly relevant to precious metal commodities such as silver and gold.

In a meeting with Commission VI of the House of Representatives today, Tuesday (31/3/2026), Untung highlighted the tax treatment of silver products. He proposed that the Value Added Tax (VAT) rate for pure silver be aligned with that of pure gold bullion.

“Alignment of the rate for silver products, namely pure silver, with the VAT exemption facility, as currently silver is charged 12%, just as applied to pure gold bullion. Gold is exempt, but silver is charged,” Untung stated during the Hearing with Commission VI of the House of Representatives on Tuesday (31/3/2026).

Furthermore, Untung addressed the difference in Income Tax (PPh) treatment on gold purchases. Referring to Minister of Finance Regulation (PMK) Number 51 of 2025, the Article 22 PPh rate for gold purchases by bullion banks is set at 0.25%.

However, for state-owned enterprises like Antam, the rate imposed is 1.5%, or six times higher than for non-state-owned entities. This situation is seen as creating an imbalance in the precious metals industry ecosystem.

“Whereas we, as a state-owned enterprise, are charged 1.5%, which is six times higher than that charged to non-state-owned entities. With this support, we are committed to continuing to strengthen performance, increase added value through downstreaming, and maintain governance that is transparent, accountable, and fair,” Untung said.