Minister of Finance Leaves Decision on VAT Increase to 12% to Next Government

• Minister of Finance Sri Mulyani leaves decision on 12 percent VAT increase to new government
• Coordinating Minister for Economic Affairs Airlangga Hartarto also states decision depends on next government
• Plan to increase VAT to 12 percent stated in Law Number 7 of 2021
• Adjustment to be included in 2025 State Revenue and Expenditure Budget Law if agreed by next government
• Indonesian Center of Reform on Economics researcher emphasizes need for right timing in increasing VAT rates
• Suggestion to implement progressive VAT policy with multi-rates based on income levels of consumers.

Source: voi.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.

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