JAKARTA : Indonesia will make some exporters retain part of their export earnings onshore for at least three months starting next month in a regulation draft awaiting President Joko Widodo's approval, the country's chief economic minister said on Thursday.The resource-rich country has been working on new
JAKARTA : Indonesia will make some exporters retain part of their export earnings onshore for at least three months starting next month in a regulation draft awaiting President Joko Widodo's approval, the country's chief economic minister said on Thursday.
Coordinating Minister of Economic Affairs Airlangga Hartarto unveiled the plan in February for exporters of natural resources and derivative products to retain 30 per cent of their proceeds for every export document worth at least $250,000 for three months. Southeast Asia's largest economy has long been concerned about exporters' habit of parking earnings in offshore bank accounts, even after authorities required them to receive proceeds through the local banking industry more than a decade ago.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SM Tharman to run for President, will resign from Govt and PAP on July 7Senior Minister Tharman Shanmugaratnam will be running for President in the upcoming election, stepping aside after 22 years in politics. “I wish to inform you that I have decided to put myself forward as a candidate in the forthcoming presidential election. I hence wish...
Read more »
SM Tharman to run for President, will resign from Govt and PAP on July 7He will be retiring from politics after 22 years. Read more at straitstimes.com.
Read more »
Japan's Isuzu to relocate factory from Thailand to Indonesia - Indonesia govtJAKARTA : Japanese truck maker Isuzu Motors plans to relocate a factory from Thailand to Indonesia and could start production as early as next year, Indonesia's industry minister said on Wednesday.Minister Agus Gumiwang Kartasasmita met with Isuzu's executives in Tokyo on Tuesday, the ministry said in a s
Read more »
Microsoft searching for solutions over UK block on Activision deal -presidentLONDON :The president of Microsoft said he was looking for solutions to try to get British approval for the software giant's $69 billion acquisition of 'Call of Duty' maker Activision Blizzard. British competition authorities blocked the biggest ever deal in gaming in April, in a shock decision which Microsof
Read more »
Indonesian President Jokowi to visit Singapore to speak at Temasek’s sustainability eventThe event will see world leaders, academics and industry leaders discuss ways to speed up green transition. Read more at straitstimes.com.
Read more »
Indonesian President Joko Widodo to deliver address at Temasek sustainability event in SingaporeSINGAPORE: Indonesian President Joko Widodo will visit Singapore on Wednesday (Jun 7) to give a speech at Temasek's Ecosperity Week, the Ministry of Foreign Affairs (MFA) said on Tuesday. He will be accompanied on his trip by first lady Iriana Joko Widodo and members of his Cabinet. 'Prime Minist
Read more »