How To Calculat The Batangan Gold Tax: Formula And Examples

Gold bullion illustration (Photo: dock. Antara)

YOGYAKARTA Gold Batangan is a commodity taxed by the government. Based on Minister of Finance Regulation (PMK) Number 48 of 2023 concerning Income Tax and Value Added Tax on Gold Sales and Batu Permata, gold bullion entrepreneurs are required to collect income tax (PPh) article 22 of 0.25 percent of the selling price. That includes selling gold bullion which has a digital record or ownership record. So, how to calculate the gold bullion tax? Check out the full information below.

It has been mentioned above that the purchase of gold bullion will be subject to PPh of 0.25 percent.

Based on these rules, the formula for calculating gold bullion taxes is as follows:

PPh Article 22 Gold Batangan = 0.25 percent x the selling price of gold bullion

For example:

Mr. Budi wants to buy gold bars weighing 1 kg in Antam's gold boutique for investment purposes. Referring to the information listed on the Mulia Metal page, Antam's gold price with a weight of 1000 gr or 1 kg is set at IDR 1,065,600,000 before being subject to Article 22. So, how much money does Budi have to spend to buy the gold bullion?

Thus, the price of the belie mas bullion weighing 1 kg becomes:

Thus, the money that Budi had to spend to buy gold bars weighing 1 kg in Antam's gold boutique was IDR 1,068,264,000.

For additional information, the collection of PPh Article 22 of 0.25 percent also applies to the delivery of raw materials in the form of gold jewelry or gold bullion. The handover referred to is from a businessman who ordered a gold manufacturer which aims to produce gold jewelry or bullion.

Pph Article 22 collection is not final. This means that it can be taken into account as a tax credit, as a tax payment in the current year for taxpayers who are collected.

However, based on PMK rules Number 48 of 2023 Chapter II article 5, there are a number of conditions where gold sales do not need to be subject to Article 22 of PPh, such as:

Meanwhile, the type of income tax on services from the sale of gold jewelery and bullion is related to Article 21 of PPh for private taxpayers, and related to Article 23 of PPh for corporate taxpayers.

The PPh Article 21 rate is 5 percent to 35 percent, depending on the service acquisition paid by service users. Meanwhile, the PPH rate Article 23 is set at 2 percent of commissions or other similar payments with names and in any form paid by service users.

That's the information on how to calculate gold bullion taxes. Hopefully this article can add insight to the loyal readers of VOI.ID.