Becoming a Safe Haven: Airlangga Opens Tax Incentives for the Gold Industry

Jakarta — The Coordinating Minister for Economic Affairs Airlangga Hartarto said the government will continue to explore tax incentives for gold. He noted that beyond boosting economic value, gold can serve as an instrument to help mitigate risks in the future. Therefore there is a need to push for greater ease of doing business in the bullion sector, including reviewing several tax policies.

‘Some things we may need to reassess regarding tax policy. So we will look at what other incentives are needed to keep gold attractive in value, while also ensuring it is physically safe,’ Airlangga said at the Launch of the Indonesia Bullion Ecosystem Roadmap in Jakarta on Friday (6 March 2026).

Airlangga said the government is currently encouraging more gold trading to be done domestically, including in interactions with external parties. He explained that to support the availability of raw materials for the jewelry industry going forward, the government is also asking industry players first whether additional incentives are still needed or not.

Before moving on, strengthening the national bullion ecosystem is also supported by the government through the establishment of the Indonesia Bullion Market Association (IBMA), which acts as a forum for coordination of the gold industry as well as a strategic partner to the government.

Data according to Airlangga also showed the number of Bank Bullion customers surged from 3.2 million in February 2025 to 5.7 million currently. Bank Bullion was launched in February last year, when its customer base was 3.2 million, now 5.7 million. In addition to customer growth, the value of gold pledged at Pegadaian rose sharply, from 94 tonnes to 144.7 tonnes. Airlangga added that those who use gold-backed loans rose by 38.5 tonnes or worth Rp 102 trillion. On the other hand, gold usage through Bank Syariah Indonesia (BSI) now reaches 22 tonnes.