Amazon Global Selling: A Decade of Growth in a Vast Market
Dec 17, 2024 05:43 PM
Din Tai Fung and the Globalization of Chinese Cuisine
Dec 03, 2024 08:26 PM
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Starting from January 1, 2025, Indonesia will implement a 12% value-added tax, which is 1 percentage point higher than the current tax rate. The move is based on the Tax Regulations Harmonization Act enacted in 2022. Before this, the value-added tax rate has been increased from 10% to 11% on April 1, 2022.
Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto said that the government is working on formulating macroeconomic and financial policies, including a new value-added tax rate, to support the formulation of the 2025 national budget plan.
The new tax rate is expected to increase revenue, but the final budget for 2025 is not ready before Komisi Pemilihan Umum officially announces the results of the presidential election on March 20. Therefore, Indonesia will maintain a value-added tax rate of 11% this year. Adjustments to tax rates could range from 5% to 15%, depending on an assessment of economic and capital needs.
The increase in tax rates can have a direct impact on Indonesia's economic growth rate in 2025, improve Indonesia's fiscal situation, reduce deficits, improve credit ratings, attract more foreign investment, and promote the development of domestic enterprises. In addition, rising tax rates will raise commodity prices. On the premise that the Indonesian government effectively manages inflationary pressure, stimulating consumers to purchase goods in advance can promote economic growth to a certain extent. If Indonesia can achieve a higher economic growth rate, it will provide more business opportunities and development space for Chinese companies.
Amazon Global Selling: A Decade of Growth in a Vast Market
Dec 17, 2024 05:43 PM
Din Tai Fung and the Globalization of Chinese Cuisine
Dec 03, 2024 08:26 PM