JAKARTA — Indonesia's parliament said on Thursday (Dec 12) it had proposed to the government to only raise the current value-added tax (VAT) rate for luxury items to avoid an impact on low income people. By law, VAT is set to rise by one percentage point to 12 per cent starting Jan 1, 2025 to improve the country's revenue collection....
A silhouetted woman walks past a Dior logo in a shopping mall in Jakarta, Indonesia, Oct 4, 2020.JAKARTA — Indonesia's parliament said on Thursday it had proposed to the government to only raise the current value-added tax rate for luxury items to avoid an impact on low income people.
He made the statement shortly after some senior lawmakers discussed the proposal with President Prabowo Subianto. With that proposal, the lawmakers agreed the VAT hike will be implemented as scheduled. In response to the proposal, government said it would next week announce its response alongside an economic package that will include stimulus measures to mitigate the impact, its senior economic minister Airlangga Hartarto said.
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