Indonesia should turn to value-added tax (VAT) and large tech companies to address the widening shortfall in state revenue, analysts have said. Danny Darussalam Tax Center (DDTC) research partner Bawono Kristiaji said VAT and individual tax were generally more resistant to economic shocks like those that hit Indonesia during the 2008 crisis. “VAT is more resistant to […]
Read MoreIndonesians are relatively more optimistic on the outlook of the economy and will spend more in the future as businesses are forced to adapt to changing consumer behavior to endure the economic effects of the pandemic, several surveys show. More than half of Indonesian respondents say they are optimistic that the economy will rebound within […]
Read MoreThe government is looking to finalize next week Rp 35.3 trillion (US$2.26 billion) in new tax incentives for 18 sectors including those hardest-hit by the COVID-19 pandemic such as tourism and the food and beverage sector. It will also introduce new tax breaks for the healthcare sector. The government is currently formulating the regulation and […]
Read MoreWhile a number of large manufacturing companies are adapting to the shifts in demand toward health equipment and basic necessities during the COVID-19 pandemic, widespread layoffs and furloughs have still been seen with small and medium-sized manufacturers struggling. Industry Minister Agus Gumiwang Kartasasmita said the industrial landscape was changing during the pandemic with some industries thriving […]
Read MoreIndonesia’s palm oil exports, including oleochemicals and palm oil kernel, dropped nearly 19 percent in the January to February period driven by lower exports to China as the coronavirus pandemic took a toll on the country’s top export commodity. The Indonesian Palm Oil Producers Association (Gapki) said palm oil exports in the first two months of this […]
Read MoreThe Trade Ministry is working to ensure staple food prices, including beef, remain affordable and distribution remains smooth amid the COVID-19 outbreak by partnering with ride-hailing company Gojek, importers and retailers. The Indonesian Meat Importers Association (Aspidi), the Indonesian Retail Association (Aprindo) and the Indonesian Market Traders Association (Appsi), all of which are partnering with […]
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