The government has implemented a tax discount program which has been implemented in stages since March 2021 in order to revive the Indonesian automotive market in the midst of the COVID-19 pandemic, which is still ongoing today.
The government has also increased the tax discount period by 100 percent from the previous one until May 2021, extended until August 2021.
The support from the government to stimulate national automotive sales was responded positively by the market with a significant increase. This can be seen when comparing the average retail sales before the implementation of the PPnBM relaxation in January-February 2021, which was around 51,000 units per month, a significant increase of 46 percent to around 74,000 per month after the implementation of the tax discount in March-May 2021.
Source inilah.com
Latest Posts in "Indonesia"
- Finance Ministry Probes 40 Steel Firms for Rp5 Trillion Annual VAT Losses
- Finance Ministry to Inspect Steel Giants After Uncovering Widespread VAT Evasion Scheme
- VAT Registration and E-Faktur Compliance in Indonesia: Key Challenges for Foreign Investors
- Indonesia Reinstates 100% VAT Incentive for Home, Apartment Purchases up to Rp2 Billion in 2026
- Finance Ministry Offers 100% VAT Incentive for Home Buyers Throughout 2026
