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Indonesia’s proposed VAT hike draws flak from businesses

JAKARTA — As Indonesia considers tax increases to cover stimulus spending sparked by¬ the¬ pandemic, the country’s¬ business community warns that higher levies¬ could dampen a nascent economic recovery¬ after four straight quarters of contraction. The Finance Ministry contemplates two options for a hike in the value-added tax: raising the current across-the-board rate, or enacting separate rates for different categories […]

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USD/IDR Price News: Indonesian rupiah stays below 14,300 on upbeat CPIs

Indonesia‚Äôs annual inflation rate accelerated in May, according to the latest data published by¬ Statistics Indonesia¬ showed¬ on Wednesday. Indonesian May‚Äôs inflation rate rose to 1.68% on the year when compared with April‚Äôs 1.42% and 1.67% expectations, although remains¬ way below the Bank Indonesia‚Äôs (BI) 2.5-4.5% target range. The annualized core figure arrived at 1.37% vs. 1.18% previous and […]

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Indonesia is considering alternative minimum tax in bid to prevent tax avoidance by companies

JAKARTA (Reuters) – Indonesia is considering introducing an alternative minimum tax in a bid to prevent tax avoidance by companies, Finance Minister Sri Mulyani Indrawati told Parliament on Monday, providing more details in¬ her proposals for sweeping tax reforms. “The tax reforms are designed to create fairness and equality for companies. Especially for those that so […]

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Indonesian unicorns unite

The recent mega-merger of the Indonesian super-apps Gojek and Tokopedia — essential fixtures in the daily lives of tens of millions of people — has lent new urgency to the need for better personal data protection in the country. Analysts say the biggest business tie-up in Indonesian history should prompt lawmakers to speed up deliberation […]

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