Lawmaker Proposes VAT Reduction to Boost Economy and Ease Financial Burden on Citizens

• Lawmaker proposes reducing VAT from 11 percent to 10 percent to ease financial burden
• Lower VAT aims to boost consumer spending and demand for goods
• Reduction may not have immediate impact but could increase transaction volumes
• Suggests taxing certain agricultural products at 8 percent to support the sector
• Emphasizes importance of fiscal policies for lower-income communities
• Aligns with President Prabowo’s commitment to alleviate hardships
• Highlights need to maintain consumer spending to sustain purchasing power
• House of Representatives supports policies to preserve economic resilience

Source: en.antaranews.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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