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Indonesia: Government removes income tax for sugar

The government removed on Friday income tax on sugar as part of its attempt to maintain the government’s purchasing price at Rp 9,700 (69 US cents) per kilogram. The decision was made during a meeting at the State Palace in Jakarta attended by relevant officials and ministers. Trade Minister Enggartiasto Lukita said the government preferred to […]

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Indonesia: 64 companies granted tax incentives: Official

The government has granted tax incentives to 64 companies since a revised regulation on fiscal incentives was issued in April, an official has said. “Sixty-four companies have got tax allowances. More investors have submitted documents,” said the head of the Industry Ministry’s Industrial Research and Development Agency, Ngakan Timur Antara, in Jakarta on Thursday as […]

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Indonesia: Digital currencies destined for bourse

CRYPTOCURRENCIES will be future trading subjects or commodities at Indonesia’s bourse, even though the Bank Indonesia (BI) does not recognise such currencies as payment instruments, the Trade Ministry’s Futures Exchange Supervisory Board (Bappebti) has decided. “The Bappebti head has signed a decree to make cryptocurrency a commodity that could be traded at the bourse,” said […]

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Indonesia: Inflation reaches 0.21% in May

Inflation was recorded at 0.21 percent in May, higher than 0.1 percent recorded in the previous month, the Central Statistics Agency (BPS) announced on Monday. The latest figure brought year-to-date (ytd) inflation at 1.3 percent. Meanwhile, year-on-year (yoy) inflation was recorded at 3.23 percent in May, lower than 4.33 percent and 3.33 percent recorded over […]

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Indonesia’s largest bank eyes Philippines branch

MANILA, Philippines — Jakarta-based Bank Mandiri has expressed interest to put up a branch in the Philippines four years after the country’s banking industry was fully opened up to foreign banks almost four years ago. Representatives of the largest state-owned Indonesian bank recently met with Finance Secretary, and Monetary Board member, Carlos Dominguez III as […]

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