Indonesia has launched a US$50 billion economic policy package to mitigate the impact of a value-added tax (VAT) increase from 11% to 12% on January 1st. The stimulus aims to bolster the dwindling purchasing power of middle- and low-income households. While basic necessities will be exempt from the new rate, 'premium' versions of essential goods like rice, fruit, meat, and healthcare will still be subject to the 12% VAT.
Indonesia has unveiled an economic policy package to soften the blow of an increase in value-added tax on goods and services from Jan 1. The stimulus package , worth more than US$50 billion, is aimed at supporting the weakening purchasing power of middle- and low-income communities. VAT will be increased to 12% from the current 11%.
Indonesia has unveiled an economic policy package to soften the blow of an increase in value-added tax on goods and services from Jan 1. The stimulus package, worth more than US$50 billion, is aimed at supporting the weakening purchasing power of middle- and low-income communities. VAT will be increased to 12% from the current 11%.
Indonesia Economy Stimulus Package VAT Taxes
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