Antam Gold Price Drops Rp260,000 per Gram as Buyback Sinks Rp285,000

Antam gold prices fell sharply on Saturday, with the retail price dropping by Rp260,000 per gram and the buyback price sliding by Rp285,000, according to data published on the Logam Mulia website.

The latest Antam gold price monitored on the Logam Mulia page on Saturday fell Rp260,000 from Rp3,120,000 to Rp2,860,000 per gram.

The buyback price also declined, dropping to Rp2,654,000 from Rp2,939,000 per gram.

Sales transactions are subject to a tax deduction, in line with Finance Ministry Regulation (PMK) No. 34/PMK.10/2017, which applies to all gold products from 1 gram to 1,000 grams (1 kilogram).

The resale of gold bars to PT Antam Tbk with a value exceeding Rp10 million is subject to Income Tax (PPh) Article 22 at 1.5 percent for taxpayers with a Taxpayer Identification Number (NPWP) and 3 percent for those without an NPWP.

The PPh 22 on buyback transactions is deducted directly from the total buyback value. Below are the latest Antam gold bar prices listed on the Logam Mulia website:

• 0.5 gram gold: Rp1,480,000

• 1 gram gold: Rp2,860,000

• 2 gram gold: Rp5,660,000

• 3 gram gold: Rp8,465,000

• 5 gram gold: Rp14,075,000

• 10 gram gold: Rp28,095,000

• 25 gram gold: Rp70,112,000

• 50 gram gold: Rp140,145,000

• 100 gram gold: Rp280,212,000

• 250 gram gold: Rp700,265,000

• 500 gram gold: Rp1,400,320,000

• 1,000 gram gold: Rp2,800,600,000

The tax deduction on gold purchases follows PMK No. 34/PMK.10/2017, under which bullion purchases are subject to PPh 22 of 0.45 percent for NPWP holders and 0.9 percent for non-NPWP buyers.

Each bullion purchase is accompanied by proof of PPh 22 withholding.

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