Legal News Update
Contributors: Almaida Askandar, S.H., MBA, Nita Damayanti, S.H., and Clarissa Felicia Hidriani, S.H.
Published on 23 August 2026 by IABF Law Firm, Jakarta, Indonesia.
Indonesia Updates the DHE-SDA Framework and Introduces Special Treatment
for the Mining Sector
I. Introduction
The Indonesian Government has further developed the regulatory framework governing Natural Resource Export Proceeds (Devisa Hasil Ekspor Sumber Daya Alam or “DHE-SDA”) through the issuance of Government Regulation No. 21 of 2026 on the Third Amendment to Government Regulation No. 36 of 2023 on Export Proceeds from the Exploitation, Management and/or Processing of Natural Resources (“GR 21/2026”) and Minister of Finance Regulation No. 48 of 2026 on the Criteria for Exporters Eligible for Special Provisions in Fulfilling the Obligations for the Repatriation, Placement and Utilization of Natural Resource Export Proceeds (“MOF Regulation 48/2026”). The DHE-SDA framework was established under Government Regulation No. 36 of 2023 (“GR 36/2023”), which has been amended by Government Regulation No. 8 of 2025, Government Regulation No. 2 of 2026, and GR 21/2026. The framework generally applies to export proceeds derived from the mining, plantation, forestry, and fisheries sectors and regulates, among others, the repatriation, placement, and utilization of DHE-SDA within the Indonesian financial system. While the general DHE-SDA requirements continue to be governed by GR 36/2023 as amended, GR 21/2026 introduces further flexibility within this broader framework by providing special treatment for DHE-SDA originating from the mining sector in connection with certain bilateral trade agreements, understandings, or other trade arrangements. MOF Regulation 48/2026 further sets out the criteria for exporters that may benefit from such special treatment.
II. Key Provisions
1. General DHE-SDA Placement Requirements
The DHE-SDA Framework applies to export proceeds generated from the mining, plantation, forestry, and fisheries sectors. For exporters subject to the DHE-SDA placement obligation, DHE-SDA must generally be placed in a dedicated DHE-SDA account within the Indonesian financial system. Under GR 36/2023 as amended by GR 8/2025 DHE-SDA from the non-oil and gas mining, plantation, forestry, and fisheries sectors must generally remain placed at 100% for a minimum period of 12 months. Different treatment applies to DHE-SDA from the oil and gas sector, for which at least 30% must remain placed for a minimum period of three months. These requirements form are part of the general DHE-SDA framework and are applicable before considering the special treatment introduced under GR 21/2026.
2. Placement and Use of DHE-SDA
The obligation of Exporters to deposit DHE SDA into the Indonesian financial system shall be fulfilled by placing the DHE SDA into a Special DHE SDA Account at a Bank Conducting Foreign Exchange Business that is a state-owned enterprise.
The placement of DHE SDA into a Special DHE SDA Account is mandatory for Exporters holding DHE SDA where the Export value stated in the Export Declaration is at least USD 250,000.00 (two hundred and fifty thousand United States Dollars) or its equivalent.
In addition to the placement requirements, GR 36/2023 as subsequently amended, including by GR 2/2026, also regulates not only the repatriation of DHE-SDA but also its placement and utilization within the Indonesian financial system. DHE-SDA may be placed through the permitted accounts and financial instruments and, subject to the applicable requirements, may be utilized for certain purposes, including payments of government obligations, dividends, procurement of goods and services, repayment of certain loans, and conversion into Rupiah. These requirements form the general framework applicable to DHE-SDA before considering any special treatment available to eligible exporters.
3. Special Treatment for DHE-SDA from the Mining Sector
Other than this general framework, GR 21/2026 introduces special treatment for DHE-SDA originating from the mining sector in connection with bilateral trade agreements, understandings, or other trade arrangements involving Indonesia. Under this special treatment, at least 30% of the relevant mining-sector DHE-SDA must remain placed for a minimum period of three months from its placement in a dedicated DHE-SDA account. GR 21/2026 also provides greater flexibility in banking arrangements, as the relevant DHE-SDA may be placed in a dedicated DHE-SDA account at a bank conducting foreign exchange activities. Conversion of such DHE-SDA into Rupiah may likewise be carried out through such bank
4. Criteria for Exporters Eligible for Special Treatment
MOF Regulation 48/2026 further specifies that the special treatment is not automatically available to all mining exporters. To qualify, an exporter must be established as a Persero company, have at least one shareholder originating from an eligible trading partner country, and such shareholder must hold at least 10% of the exporter’s shares. The special treatment applies to trading partner countries that have bilateral trade agreements, understandings or other trade arrangements with Indonesia. The trading partner countries eligible for such treatment are determined through an inter-ministerial and inter-agency coordination mechanism. Accordingly, eligibility depends not only on the exporter’s business sector and shareholding structure, but also on whether the relevant shareholder originates from a designated trading partner country.
III. Key Takeaways for Exporters
The latest DHE-SDA framework should therefore be viewed in two layers. First, the general DHE-SDA requirements continue to apply to exporters in the mining, plantation, forestry, and fisheries sectors. Second, qualifying exporters in the mining sector may benefit from special treatment concerning the percentage and period of placement, as well as greater flexibility in the banks through which their DHE-SDA may be placed and converted. Exporters should accordingly determine the general DHE-SDA requirements applicable to their respective sectors before assessing whether they satisfy the additional criteria to benefit from the special treatment under GR 21/2026 and MOF Regulation 48/2026.
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Disclaimer
This news update is prepared for general informational purposes only. The content does not constitute legal advice, a legal opinion, or counsel from IABF Law Firm. The information contained herein may not reflect the most current developments. Any quotation, distribution, or use of this information for any purpose is solely at the user’s own risk.
