VAT 12% Archives - Stay Ahead with Heaptalk: Your Go-To Source for Business News https://heaptalk.com/tag/vat-12/ Latest business news media headlines platform today | Lets talk Business Sat, 04 Jan 2025 05:05:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 https://heaptalk.com/wp-content/uploads/2025/04/cropped-fav-icon-48x48-1-32x32.png VAT 12% Archives - Stay Ahead with Heaptalk: Your Go-To Source for Business News https://heaptalk.com/tag/vat-12/ 32 32 Officially stipulated, here is the 12% VAT calculation https://heaptalk.com/news/officially-stipulated-here-is-the-12-vat-calculation/ Sat, 04 Jan 2025 05:05:35 +0000 https://heaptalk.com/?p=45376 Heaptalk, Jakarta — Indonesia’s government has determined the 1% increase in Value-Added Tax (VAT) rates, from 11% to 12% for luxury goods and services, effective January 1, 2025. The measure aims to maintain the consistency of the single rate principle in the Law on Harmonization of Tax Regulations (UU HPP). “Whether it is a multi-rate or not, we remain […]

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]]> Indonesia’s Govt decided to impose 12% VAT only for luxury goods https://heaptalk.com/news/indonesias-govt-decided-to-impose-12-vat-only-for-luxury-goods/ Thu, 02 Jan 2025 07:45:09 +0000 https://heaptalk.com/?p=45310 Heaptalk, Jakarta — Indonesia’s government has determined that the 1% increase in Value-Added Tax (VAT) rates, from 11% to 12%, will officially apply exclusively to luxury goods and services, effective this year. Furthermore, the Minister of Finance, Sri Mulyani, clarified that the 12% VAT hike will be limited to luxury items already subject to the Luxury […]

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]]> Ministry: Industries worry about import relaxation policies than 12% VAT bumps https://heaptalk.com/govact/ministry-industries-worry-about-import-relaxation-policies-than-12-vat-bumps/ Wed, 01 Jan 2025 03:00:10 +0000 https://heaptalk.com/?p=45293 Heaptalk, Jakarta — Indonesia’s Ministry of Industry (Kemenperin) revealed that the country’s manufacturing sector views import relaxation policies as a more significant threat than the recent increase in Value-Added Tax (VAT) to 12%. Ministry of Industry spokesperson Febri Hendri Antoni Arif explained that the manufacturing sector generally considers the VAT hike manageable by 12%, especially since the government […]

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]]> Government declares economic policy package ahead of a 12% VAT increase https://heaptalk.com/govact/government-declares-economic-policy-package-ahead-of-a-12-vat-increase/ Mon, 16 Dec 2024 06:34:11 +0000 https://heaptalk.com/?p=44975 Heaptalk, Jakarta — The Government of the Republic of Indonesia, through the Coordinating Ministry for Economic Affairs, has announced an economic policy package to accelerate inclusive and sustainable economic growth, including a VAT 12% policy. According to the Coordinating Minister for Economic Affairs, Airlangga Hartarto, in a press release on Monday (16/12), this economic policy package must […]

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]]> Apart from luxury cars, luxury motorcycles are also subject to 12% VAT https://heaptalk.com/govact/apart-from-luxury-cars-luxury-motorcycles-are-also-subject-to-12-vat/ Sun, 15 Dec 2024 03:33:39 +0000 https://heaptalk.com/?p=44945 Heaptalk, Jakarta — In addition to luxury cars, luxury motorcycles are also likely to be impacted by the 12% increase in value-added tax (VAT) on January 1, 2025. The 12% VAT provision for luxury vehicles has been confirmed by Sufmi Dasco, Deputy Speaker of the House of Representatives (DPR RI), during a press conference at […]

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]]> Govt imposes 12% VAT on luxury cars https://heaptalk.com/govact/govt-imposes-12-vat-on-luxury-cars/ Thu, 12 Dec 2024 11:32:37 +0000 https://heaptalk.com/?p=44889 Heaptalk, Jakarta — Sufmi Dasco, Deputy Speaker of the House of Representatives, announced that the government imposed a 12% VAT on luxury cars, effective January 1, 2025. “Luxury cars, luxury apartments, luxury houses, everything luxurious,” said Dasco in a press release in Jakarta. However, Dasco mentioned that the types of cars are still being discussed. […]

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]]> Targeting luxury goods, govt to still raise VAT to 12% https://heaptalk.com/govact/targeting-luxury-goods-govt-to-still-raise-vat-to-12/ Sun, 08 Dec 2024 06:09:01 +0000 https://heaptalk.com/?p=44749 Heaptalk, Jakarta — Following a meeting with President Prabowo Subianto at the Palace on Thursday (12/05), senior members of the Indonesian House of Representatives (DPR RI) announced that the Value Added Tax (VAT) rate would still rise to 12%, but only for consumers purchasing luxury goods. The Chair of the DPR RI’s Commission XI, Misbakhun, […]

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]]> Tax hike of 12%: Sri Mulyani plans to pardon tax evaders https://heaptalk.com/govact/tax-hike-of-12-sri-mulyani-plans-to-pardon-tax-evaders/ Fri, 22 Nov 2024 02:25:54 +0000 https://heaptalk.com/?p=44402 Heaptalk, Jakarta — Amid public protests over the planned increase in Value-Added Tax (VAT) to 12%, Finance Minister Sri Mulyani has opened the possibility of granting tax evaders amnesty through a third round of the Tax Amnesty program. “This Tax Amnesty program is included in the Draft Legislative Priorities (Prolegnas) for 2025. This indicates that […]

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]]> Finance Minister reveals goods subject to 12% VAT Rate next year https://heaptalk.com/govact/finance-minister-reveals-goods-subject-to-12-vat-rate-next-year/ Sat, 16 Nov 2024 13:51:04 +0000 https://heaptalk.com/?p=44275 Heaptalk, Jakarta — Indonesia’s Minister of Finance, Sri Mulyani Indrawati, has confirmed that the planned increase in the value-added tax (VAT) rate to 12% will take effect on January 1st, 2025, following the 2021 Tax Regulation Harmonization Law (HPP). She explained that this decision is driven by the country’s budgetary needs, fiscal health, and the […]

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]]> VAT up 12%, Apindo expects incentives to retain people’s purchasing power https://heaptalk.com/govact/vat-up-12-apindo-expects-incentives-to-retain-peoples-purchasing-power/ Wed, 14 Aug 2024 13:30:46 +0000 https://heaptalk.com/?p=36953 Heaptalk, Jakarta — The government has signaled that the planned increase in the Value Added Tax (VAT) rate from 11% to 12% will remain applicable in 2025. This plan is expected to pressure the purchasing power of the public, particularly the lower-middle class. To address this, the Economic Policy Analyst from the Indonesian Employers Association […]

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]]> Indonesia’s govt to raise VAT to 12% in 2025, Will it be the proper measure? https://heaptalk.com/news/indonesias-govt-to-raise-vat-to-a-12-in-2025-will-it-be-the-proper-measure/ Mon, 13 May 2024 10:34:17 +0000 https://heaptalk.com/?p=30471 Heaptalk, Jakarta — Indonesia’s government plans to increase the Value-Added Tax (VAT) to 12% in 2025. According to Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, this regulation will increase state income from the tax sector. “Our target is, of course, to increase state income from taxation. We will discuss this plan and its implementation […]

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