Indonesia's OJK seeks tax incentives for gold ETFs

Indonesia's Financial Services Authority (OJK) is seeking government support to boost a new financial product: gold Exchange Traded Funds (ETFs). Friderica Widyasari Dewi, head of the OJK, met with Coordinating Minister for Economic Affairs Airlangga Hartarto on July 14, 2026, to propose fiscal incentives for gold ETF transactions on the Indonesia Stock Exchange.

Dewi stated the request was for "several incentives for new products in the financial services market such as gold ETFs and others." While she did not detail the specific incentives, the OJK views gold ETFs as a way to deepen the market for bullion banks. The ETFs will trade on the stock market without requiring physical delivery of gold.

Minister Hartarto confirmed the discussion, noting that expanding financial instruments aligns with the OJK's mandate under the Financial Sector Development and Strengthening Law. He acknowledged that fiscal incentives might be necessary, particularly because gold ETFs are a "non-delivery" product, meaning no physical goods are exchanged. "So, one of them, from a taxation perspective, to make it easier," he explained.

The OJK aims to launch these gold ETFs in the second quarter of 2026. Regulatory groundwork is underway, including OJK Regulation Number 2 of 2026 concerning Collective Investment Contracts Mutual Funds Traded on the Stock Exchange with Gold as Underlying Assets. Previously, Hasan Fawzi, OJK's Head of Capital Market Supervision, indicated that tax treatment for the underlying gold was a key technical aspect being aligned to ensure the product's attractiveness and competitiveness.