PANGKALPINANG -- The global tin mining industry in the first semester of 2023 is still fluctuating. This is due to weakening demand and unstable commodity prices.
Nevertheless, PT Timah Tbk continues to strive to boost performance so that it can provide maximum contribution to society and the state in the form of taxes and Non-Tax State Revenue (PNBP).
PT Timah Tbk as a state-owned company has a mandate from the state to manage tin. Under the leadership of Erick Thohir, PT Timah Tbk continues to accelerate performance by making efficiencies in the company's business processes, improving production performance and mining technology innovation.
Members of the MIND ID mining industry holding company in 2022 contributed taxes and PNBP amounting to IDR 1.52 trillion. PT Timah Tbk's commitment to providing tax and PNBP contributions is appreciated by various parties.
Recently, PT Timah Tbk won the 2023 Subroto Award in the field of Mineral and Coal Non-Tax State Revenue in the Mandatory Payer category with the Highest Level of PNBP Payment Compliance from the Ministry of Energy and Mineral Resources (ESDM).
In the first semester of 2023, PT Timah Tbk has also contributed taxes and PNBP amounting to IDR 315.6 billion to the state.
Tin as a global commodity is also affected by global economic conditions, increasing interest rates, US inflation which has an impact on tin commodity prices which are still fluctuating in Semester 1 of 2023
Based on company records, the average selling price for tin metal in the first semester of 2023 is USD 26,828 per metric ton. This also caused a decrease in PT Timah Tbk's tax and PNBP contribution due to decreased sales of PT Timah Tbk due to weakening global tin demand.
PT Timah Tbk Corporate Secretary Abdullah Umar said that global economic conditions also had an impact on the company's business processes. Nevertheless, the company continues to strive to improve its performance so that it can
contribute to the state, shareholders and society.
"The company has a strategy to face the challenges of the global tin industry, such as improving efficiency and improving production performance in the hope of continuing to increase tax and PNBP contributions to the country," said Abdullah.
As a public company, PT Timah Tbk, he said, also continues to strive to maintain the trust of share owners by taking a number of concrete steps to improve the company's performance. (*)
The following is PT Timah Tbk's Tax and PNBP Contribution in the Last Four Years
2019: IDR 1.2 trillion
2020: IDR 677.9 billion
2021: IDR 776.657 billion
2022: IDR IDR 1.51 Trillion
