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Indonesia: VAT refunds reduce growth in January tax revenue

The Finance Ministry has said that large repayments for overpaid value-added tax¬ (VAT) in the manufacturing sector had reduced¬ the tax revenue¬ in¬ January¬ to Rp 86 trillion (US$6.10 billion). Taxation¬ Directorate General¬ spokesman Hestu Yoga Saksama said on Thursday that gross tax revenue grew 11.49 percent in¬ January¬ to Rp 105.28 trillion, but the obligation to repay VAT overpayments had reduced¬ growth¬ to 8.82 percent […]

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Indonesia aims to be tech hub

JAKARTA:¬ In the near future, digital technology will deeply influence the country‚Äôs development, said Rudy Salahuddin, an official from the Office of the Coordinating Economic Minister. For that purpose, the government has vowed to issue or revise at least five regulations related to the sector. They are a government regulation on eCommerce, a personal data protection […]

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Indonesia: Taxation committee suggests incentives for online marketplace

The Taxation Supervisory Committee (KPP) has suggested that digital¬ marketplace¬ service providers need¬ incentives¬ to balance out the additional burden of a new regulation on tax treatment for¬ e-commerce¬ transactions. The KPP is an independent committee that is tasked with monitoring taxation policy and implementation. The committee, which reports directly to the Finance Minister, called for improvements to tax policy. KPP […]

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Indonesia: Regulation on e-commerce to promote domestic products

The Trade Ministry is preparing a¬ regulation on e-commerce that will promote domestic products, the ministry‚Äôs domestic trade Director General Tjahya Widayanti said. “The draft of the¬ e-commerce¬ regulation is being finalized,‚ÄĚ Tjahya said in Jakarta on Wednesday as reported by¬ Antara. Under the draft regulation,¬ e-commerce¬ marketplaces would be required to display local products on their platforms. Tjahya said the […]

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Indonesia ranks third among most optimistic countries

Indonesia ranks third among the most optimistic countries¬ globally, after India and the Philippines, according to the Conference Board Global Consumer Confidence Survey, which was conducted in collaboration with Nielsen. Nielsen‚Äôs press release issued on Wednesday said Indonesian consumers‚Äô level of optimism in the fourth quarter of 2018 was stable, with a consumer confidence index (CCI) […]

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Tax office gets data of Indonesian wealth in 65 countries

After joining 120 countries in the Automatic Exchange of Information in 2018, the tax office has obtained information about the wealth of Indonesian nationals that is deposited in financial institutions in 65 countries, according to the Finance Ministry‚Äôs Taxation Directorate General. Taxation¬ Director General Robert Pakpahan said the tax office was scrutinizing the data.¬ ‚ÄúWe are cross-checking […]

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