- Finance Minister in Indonesia confirms VAT increase to 12% starting January 1, 2025
- Increase from 11% to 12% is part of the Tax Harmonisation Law of 2021
- Law initially planned a two-stage VAT increase
- Public criticism focuses on potential price impacts
- Minister defends the necessity of the VAT increase
- President suggests alternative tax revenue methods
- Lawmakers call for reconsideration of VAT hike due to economic concerns
- Information validated on December 4, 2024, at 07:12 AM
Source: fiscal-requirements.com
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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