- Government plans to increase VAT from 11% to 12% in January 2025
- Minister of Finance confirms decision will not be altered
- VAT hike policy will be socialized to public for understanding
- Increase in VAT seen as important step to maintain State Budget health
- Economist warns that VAT increase may reduce tax revenue instead of increasing it
- Strategy to increase tax revenue not as simple as raising rates, risks making people pay taxes less often
Source: indonesiabusinesspost.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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