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Indonesia: Higher Netflix bill? Govt to charge VAT on imported digital goods, services starting July

The Finance Ministry will start charging 10 percent value-added tax (VAT) on imported digital goods and services, which includes video and music streaming subscriptions, starting from July 1 in an attempt to boost state revenue amid the COVID-19 outbreak. According to Finance Ministerial Regulation No. 48/2020, the tax will be collected from customers by the […]

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Indonesia’s falling imports signals cooling economic activity

Indonesia’s imports have fallen for 10 consecutive months in April as manufacturing companies cut production output while consumer demand continues to shrink amid the COVID-19 pandemic, signaling cooling economic activity going forward. The country recorded US$12.54 billion in imports in April, an 18.58 percent drop from the same period last year. Imports of consumer goods […]

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Indonesia debt growth slows in Q1 as foreign capital retreats

Indonesia’s foreign debt growth slowed down in the first quarter as foreign investors sold off Indonesian assets over fears of the COVID-19 pandemic, Bank Indonesia (BI) announced Friday. The country’s external debt, which includes borrowing by both the government and the private sector, was recorded at US$389.3 billion, a growth of 0.5 percent year-on-year (yoy). […]

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