Indonesia considers imposition of tax on nickel exports this year
Indonesia may impose a tax on nickel exports this year, as the country, the biggest producer of the electric-vehicle battery metal, looks to refine more at home, according to President Joko Widodo.
An excavator in a pit at a nickel mine in Indonesia (Source: Bloomberg)
Jakarta (VNA) - Indonesia may impose a tax on nickel exports thisyear, as the country, the biggest producer of the electric-vehicle battery metal, looks torefine more at home, according to President Joko Widodo.
Widodo confirmed that Southeast Asia’s largest economy isconsidering introducing a levy in a recent interview with Bloomberg.
That came after an Indonesian government official said earlyin 2022 that the country was studying a progressive tax on nickel pig iron andferronickel.
Nickel is one among Indonesia’s major exports, together withcoal and palm oil. Late last year, the President said that nickel refining cangenerate an added value of up to 35 billion USD./.
Indonesian President Joko Widodo confirmed that he would protect the country’s policy that prohibits nickel exports as the European Union (EU) filed a lawsuit regarding this issue at the World Trade Organisation (WTO).
The Indonesian Government will ban bauxite exports starting this year to spur the domestic downstream sector, the country’s President Joko Widodo has said.
Vietnam has the opportunity to be at the forefront of the global movement towards the electrification of transport, so demand for nickel in Vietnam will continue to rise, experts have said.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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An excavator in a pit at a nickel mine in Indonesia (Source: Bloomberg) 
