The simpler process of claiming tax refunds has caused an increase in claims over the past few months and cut into the tax revenue, the tax office has said. The Finance Ministry’s Taxation Directorate General said that revenue from value-added tax (VAT; PPN in Indonesian) and luxury tax (PPnBM) had fallen as of recently, as it had […]
Read MoreThe Indonesian government has announced three new policies that aim to jack up the price of natural rubber, which has hit a record low since 2018. Coordinating Economic Minister Darmin Nasution said the new policies would restrict natural rubber exports, expand the domestic use of rubber in construction, and replant rubber plantations. “With these three policies, we believe we […]
Read MoreIndonesian consumer confidence rebounded in the fourth quarter of last year after having slipped in the previous quarter, according to the latest installment of the 2018 Conference Board Consumer Confidence Survey. The fourth quarter survey, conducted by Nielsen for the Conference Board, shows that Indonesia scored a consistent 127 points throughout last year, except in […]
Read MoreJAKARTA: Indonesia’s stock exchange plans to cut the minimum trading price for shares and shrink the lot size in its drive to attract more retail investors and boost volumes. The bourse will revise the decade-old requirement for stocks to maintain a floor price of 50 rupiah and lower the minimum order size from 100, Laksono […]
Read MoreIn an effort to encourage tourist spending and empower small and medium enterprises (SMEs), the government will revise a regulation pertaining to value-added tax (VAT) that would allow foreign tourists to get tax refunds for their spending. The Finance Ministry’s director general for taxation, Robert Pakpahan, said a new regulation, which will revise Finance Ministerial Regulation No. 76/2010, […]
Read MoreTHE government has vowed to improve the regulatory framework related to Indonesia’s digital economy as it aspires to become South-East Asia’s digital hub next year. In the near future, digital technology will deeply influence the country’s development, said Rudy Salahuddin, an official from the Office of the Coordinating Economic Minister. For that purpose, the government […]
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