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Indonesia to Implement 12% VAT in 2025 to Increase State Revenues

  • Indonesia plans to impose a 12% value-added tax (VAT) from 2025
  • The new rate is set to boost state revenues
  • The VAT increase is in accordance with a law on taxation regulations issued in 2022
  • The 12% rate is set to be imposed by January 1, 2025, at the latest
  • The government is formulating macro-economic and fiscal policies, including the new VAT rate, for the 2025 state budget
  • The final 2025 draft budget won’t be ready before the winner of the presidential election is announced on March 20

Source: thestar.com.my

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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