Export proceeds in US dollars must be parked in state-owned banks from 1 June 2026, with exceptions

Jakarta — Coordinating Minister for Economic Affairs Airlangga Hartarto said President Prabowo Subianto has signed the latest Government Regulation governing the obligation to place export proceeds (DHE) in state-owned banks from 1 June 2026. In the new rules, the obligation to park DHE in the Himbara, the coalition of state-owned banks, includes special exemptions for exporters that do not have to place DHE from the exploitation of natural resources (SDA) in Himbara.

Airlangga said the policy revision within the Government Regulation expands the exemptions on DHE placement to non-Himbara for the mining, oil and gas (migas), and non-migas sectors. The exemption to the 100% DHE SDA placement in Himbara will be granted to exporters that conduct transactions with partner trading countries or countries that have signed trade agreements with Indonesia. Furthermore, exemptions are available for exporters that have complied with 100% reinvestment of Indonesia’s SDA proceeds domestically and have carried out retention of 30% of their DHE for three months for the oil and gas sector, and 100% retention for 12 months for non-oil and gas, in a dedicated account.

The exporters must also have complied with repatriation in Himbara, with the conversion cap reduced from 100% of DHE to 50%. The exemption for exporters includes a retention cap for the mining sector of up to 30% to be placed in non-Himbara banks with a minimum three-month obligation. “So exporters with bilateral agreements may place 30% for three months in non-Himbara banks,” Airlangga explained.

The regulation also includes incentives for placing DHE in SDA. This includes income tax (PPh) rates of up to 0% depending on placement term, and earnings from the instrument placements. “If you use regular instruments, the tax can go up to 20%. And this regulation will take effect on 1 July 2026,” Airlangga said.