From 30% to 100%: Mandatory DHE SDA Deposits for Exporters Amended

In 2023, the government introduced a regulatory framework that specifically addresses foreign export proceeds (Devisa Hasil Ekspor– “ DHE ”) that derive from business, management and/or processing activities specifically related to natural resources (sumber daya alam– “ SDA ”) through the issuance of Regulation No. 36 of 2023 (“ Regulation 36/2023 ”). [1] At its core, Regulation 36/2023 obliges all SDA exporters that generate revenue from the export of SDA-based goods (i.e. those operating within the mining, farming, forestry and fisheries sectors) (collectively referred to as “ SDA Exporters ”) to deposit their DHE SDA in specified minimum amounts for defined periods. Additionally, said DHE SDA must be placed into certain monetary and/or financial instruments (collectively referred to as “ Instruments ”).