The taxable value of property (NJOP) in Jakarta has increased by 19.54 percent from the previous year, affecting property businesses in the capital that already find themselves in a difficult situation. “Currently, many people do not want to buy property because of the high prices and because of the taxation issue,” said the chairman of the Indonesian Real […]
Read MoreTrade Minister Enggartiasto Lukita has said that Indonesia will prepare a retaliatory policy if the United States moves forward with its plan to impose tariffs on 124 products imported from Indonesia as part of its effort to reduce the trade deficit between the two countries. However, to prevent the US from imposing tariffs, he said that the Indonesian government and the […]
Read MoreThe government will impose a 57 percent tax on electronic cigarettes, but its implementation has been postponed from July 1 to Oct. 1. The Finance Ministry’s technical and excise director, Nugroho Wahyu, said selling e-liquid without the additional tax was still allowed until Oct. 1. “We cannot implement the regulation starting on July 1 because […]
Read MoreJAKARTA: Indonesia will review imports of capital goods to help rein in the current-account deficit and stem a deepening currency rout. Finance Minister Sri Mulyani Indrawati said major government projects could be shelved as authorities widen the scope of their efforts to stabilise the currency. The rupiah has slumped more than 5% against the dollar […]
Read MoreLogistic costs in Indonesia are higher than those in other countries. Committee for Acceleration of Priority Infrastructure Delivery (KPPIP) chairman Wahyu Utomo said 72 percent of logistic costs went to transportation. Citing data from the Logistic Report Index 2016 by the World Bank, Wahyu said Indonesia was in 63rd position out of 160 countries in the […]
Read MoreJAKARTA: Indonesia’s central bank is showing its willingness to sacrifice economic growth for currency stability in its latest aggressive move on interest rates. Bank Indonesia surprised economists with a bigger-than-forecast 50 basis-point hike last Friday, on top of two rate increases in May aimed at halting a currency rout. That takes the benchmark rate to […]
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