To expedite the economic recovery process during the COVID-19 pandemic, the Indonesian Minister of Finance (MoF) provided a tax incentive for the automotive industry under which the luxury-goods sales tax (LST) payable on sales of certain types of vehicle is borne by the government (as opposed to the purchaser), through the issuance of Regulation Number 31/PMK.010/2021 (PMK-31).
Source: Deloitte
Latest Posts in "Indonesia"
- Indonesia Extends Full VAT Incentive on Property Purchases to Boost Economy Until 2025 End
- Indonesia Extends 100% VAT Waiver on Residential Properties for Foreigners Until End of 2025
- Government Allocates Rp 3.4 Trillion for Housing VAT Waiver Extension to 2026
- Free Trade Agreement between the EU and Indonesia
- Indonesia Exempts Crypto Asset Transactions from VAT Under New Finance Minister Regulation
