- Government to implement 12% VAT starting next year
- Increase from current VAT rate in accordance with law on taxation regulations
- Defense Minister Prabowo Subianto projected to win upcoming election
- Pledged to defend legacy of President Joko Widodo and continue his policies
- VAT rate to be phased in, with 12% rate by January 1, 2025
- New VAT rate expected to boost state revenues
- Final 2025 budget dependent on announcement of presidential election winner
Source: jakartaglobe.id
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
