- Indonesia limits VAT increase to 12% for luxury items such as private jets and luxury houses
- President Prabowo Subianto announced the decision following discussions with the finance ministry
- The VAT hike will not apply to other goods and services
- Basic necessities will continue to have VAT exemptions or a 0% VAT rate
- The changes are scheduled to start on January 1
Source: news.bloombergtax.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.
Latest Posts in "Indonesia"
- Indonesia to Launch AI System for Real-Time Customs Oversight and Revenue Enhancement
- Indonesia Extends Property VAT Incentive Until 2027 to Boost Housing Market and Demand
- Jakarta Considers VAT Cut to Stimulate Consumption Amid Falling Tax Revenue
- Government Considers VAT Rate Cut to Stimulate Consumer Spending Amid Economic Slowdown
- Indonesia Updates Digital Tax Rules for E-Commerce Sector
