- Indonesian spending may rise in 2025 due to new levies and tariff increases
- A 12 percent VAT increase on luxury goods and services was announced
- President Prabowo Subianto made the announcement at a press conference on December 31, 2024
- The VAT increase from 11 percent to 12 percent applies only to luxury items
- Additional levies are being considered or finalized by the government
Source: en.tempo.co
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
