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Indonesia’s president says VAT hike to apply only on luxury goods

Indonesia's President announced that the VAT hike will apply only on luxury goods during a news conference.
The President emphasized that necessary measures would ensure fairness.
Opposition parties expressed concerns about the implementation of the VAT hike.
Economic analysts are divided on the potential impact of the VAT hike.

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The Diplomat

Indonesia Scales Back Planned VAT Hike, Will Apply Only to Luxury Goods

The last-minute shift by President Prabowo Subianto came in response to strong criticisms from business associations and labor unions.

2 months ago·Tokyo, Japan

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Modern Diplomacy

Reforming Institutions for Better Fiscal, Not Higher Rates

As the sun sets on 2024, the Indonesian government charts a new fiscal course by raising the Value Added Tax (VAT) rate to 12 percent that effective on January 1, 2025. Framed as the torchbearer of the Tax Harmonization Law’s (UU HPP) mandate, this increase is seen as a lifeline for a tax ratio struggling […] The post Reforming Institutions for Better Fiscal, Not Higher Rates appeared first on Modern Diplomacy.

Indonesia waters down planned VAT hike in last-minute move

Indonesia scaled back its planned increase in the value-added tax rate just hours before it was set to take effect on Jan 1 amid escalating public outcry.

2 months ago·Bangkok, Thailand

Indonesia's president says VAT hike to apply only on luxury goods

JAKARTA: Indonesia's President Prabowo Subianto on Tuesday said a planned increase in value-added tax (VAT) rate by one percentage point to 12 per cent effective Wednesday, Jan. 1, will apply only to luxury goods and services. © New Straits Times Press (M) Bhd

2 months ago·Malaysia

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The Jakarta Post

Govt walks back sweeping VAT hike on last day of the year - Regulations - The Jakarta Post

2 months ago·Jakarta, Indonesia

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The Star Kuala Lumpur

Indonesia waters down planned VAT hike in last-minute move; Prabowo says it's only for luxury goods

Indonesia scaled back its planned increase in the value-added tax rate just hours before it was set to take effect on January 1 amid escalating public outcry.

2 months ago·Malaysia

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