Regulation Update
Sri Mulyani Sets an Auction Fee of 0%

Monday, 11 July 2022

Sri Mulyani Sets an Auction Fee of 0%

Minister of Finance Sri Mulyani set an auction fee rate of 0% which applies to buyers. Meanwhile, sellers are subject to an auction fee of 1%. The imposition of auction fees applies to non-voluntary non-execution auctions for Micro, Small, and Medium Enterprises (MSMEs) products, special scheduled auctions.

In the meantime, it is set at 0% for the seller for auctions of confiscated goods associated with criminal activities that are not yet legally binding (Inkracht).

This is stated in the Minister of Finance Regulation (PMK) Number 95/PMK.06/2022 which takes effect from 28 June 2022, or 15 days from the date the regulation was promulgated from 13 June 2022 to 31 December 2024.

Terms and Conditions

In the regulation, it is explained that this provision only applies to auction activities that meet a number of requirements. Among other things, firstly, auction activities for MSME products must be carried out by class I auction officials, with the object of auctioning MSME products except for motor vehicles.

In addition, it must include a Business Identification Number and a business license as proof that the seller is an MSME actor.

Meanwhile, for special scheduled auction activities, the following conditions must be met, first carried out by a class I auction official or a class II auction official, valid for holding an auction through a bazaar or e-marketplace auction platform.

In the meantime, the target of the scheduled auction receives facilities in the form of moveable assets with the exception of motor vehicles.

Then there are several requirements for the auction of the execution of confiscated objects in cases that have not been Inkracht in order to get a 0% auction fee including, first, the auction is carried out by a class I auction official, the object of the auction is in the form of confiscated goods related to the case of Article 45 of the Criminal Procedure Code (KUHP) Article 94 of Law Number 31 of 1997 on military justice and Article 47A of Law Number 30 of 2002 on the Corruption Eradication Commission (KPK).

In its consideration, the imposition of a 0% auction fee was conducted to encourage auction activities as a buying and selling instrument by the public and to have an impact on economic growth.

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