# macroeconomics

Latest news group about macroeconomics.

These Commodities and Services Are Exempt from VAT

Wheat flour, industrial-use sugar, and the government's cooking oil brand "Minyak Kita," will continue to be taxed at the current 11% VAT.
Business Dec 16, 2024 | 2:23 pm

State Budget Sees $25B Deficit in November

In the same period, state spending grew at a faster pace, totaling Rp 2,894.5 trillion ($181.7 billion), a 15.3 percent y-o-y increase.
Business Dec 11, 2024 | 5:28 pm

Prabowo Needs $900 Billion Investment for His 8 Pct Growth Dream

The economy could grow by 8.3 percent in 2027 as long as realized investments reach Rp 2,680 trillion that year.
Business Dec 9, 2024 | 12:44 pm

VAT Hike: Gov’t Told to Explain What Classifies as Luxury Goods

The government has yet to explain what sort of luxury goods would be subject to the upcoming VAT hike.
Business Dec 9, 2024 | 9:04 am

Basic Commodities, Healthcare, and Education Exempt from VAT

The new 12 percent VAT rate, set to take effect on January 1, will apply exclusively to luxury goods and services, Dasco explained.
Business Dec 7, 2024 | 1:54 am

Prabowo: VAT Hike to Focus Exclusively on Luxury Goods

The hike, mandated by existing legislation, is scheduled to take effect on January 1, 2025.
Business Dec 6, 2024 | 9:06 pm

12% VAT Could Slash Indonesian GDP by Rp 21 Trillion: Analyst

This timing of the VAT hike could potentially offset the anticipated boost in public consumption during Ramadan, which falls in March.
Business Dec 5, 2024 | 9:31 pm

Gov’t to Enforce 12% VAT on January 1 Despite Public Opposition

Misbakhun said the VAT hike will be applied selectively to ensure it does not disproportionately impact the vulnerable members of society.
Business Dec 5, 2024 | 7:46 pm

Gov’t Urged to Avoid ‘Arrogant’ Push for VAT Hike

Retail associations said the tax hike could lead to unintended consequences for businesses.
Business Dec 3, 2024 | 6:24 pm

Prabowo’s Senior Ministers Ask for A Much Bigger Budget

Chief Political Affairs Minister Budi Gunawan made the biggest request out of the seven ministers, reaching Rp 3 trillion in extra spending.
Business Dec 3, 2024 | 12:46 pm

Annual Inflation Recorded at 1.55% in November

Food, beverages, and tobacco products contributed 0.22 percentage points to the inflation.
Business Dec 2, 2024 | 1:52 pm

Airlangga Explains 6.5% Minimum Wage Increase

The middle class is defined as those with a monthly per capita income ranging from Rp 2.04 million to Rp 9.9 million ($65.6 to $625).
Business Dec 1, 2024 | 10:40 pm

Gov’t Plans to Establish State Revenue Ministry Headed by Abimanyu, Says Hashim

Currently, state revenues are managed by the Ministry of Finance through its Taxation Directorate and Customs and Excise Directorate.
Business Dec 1, 2024 | 8:05 pm

Vocational Education Key to Boosting Investment in Technology Sector: Minister

"Every two years, the number of births in Indonesia equals the entire population of a small country," Rosan said.
Business Nov 29, 2024 | 5:43 pm

Planned VAT Hike Lacks Public Support, Gov't Told

The public has the right to know how the revenue from the VAT increase will be used before its implementation.
Business Nov 25, 2024 | 3:48 pm

Gov’t Can Postpone VAT Hike without Amending Law

The law allows the government to adjust VAT rates within a range of 5 percent to 15 percent.
Business Nov 20, 2024 | 9:10 pm

VAT Hike Could Hamper Economic Growth: Analyst

The VAT hike could backfire, negatively affecting both purchasing power and living costs.
Business Nov 20, 2024 | 5:21 pm

Automotive Industry Gives Cold Shoulder to VAT Hike

A Toyota executive said the belief that a tax hike will automatically increase revenue may be misleading.
Business Nov 19, 2024 | 7:24 pm

Business Association Says Indonesia Already Has Highest VAT Rate in Region

In theory, the VAT hike is the government's shortcut to boost revenue in the state budget.
Business Nov 18, 2024 | 7:24 pm

VAT Hike Will Hamper Exports, Increase Unemployment: Indef

The VAT hike would trigger a series of adverse effects, including rising living costs, inflation, and weakened purchasing power.
Business Nov 17, 2024 | 7:07 pm

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