Business News
Indonesia Records Highest Trade Surplus in 2021 Says Statistics Indonesia
Statistics Indonesia (BPS) announced on Tuesday, June 15, 2021, that Indonesia recorded the highest trade balance surplus in May with a total value of USD 2.36 billion, which is the highest in 2021. The total export value was recorded at USD 16.60 billion while the import value was recorded at…
Cross-border climate vulnerabilities of the European Union to drought
Abstract European Union’s vulnerability to climate change stretches far beyond its borders Ie many of its economic sectors, such as meat and dairy, use raw materials sourced from far afield. Cross-border climate vulnerability is a relatively new subject in scientific literature, while of high societal and economic relevance. We quantify…
Bank Indonesia Prohibits Cryptocurrency as Payment Tool
Bank Indonesia Governor Perry Warjiyo announced in a virtual seminar that the central bank has banned Indonesian financial institutions from accommodating cryptocurrency as a means of payment or other financial services tools. The ban, according to Perry, is based on existing laws "[Cryptocurrency] is not legitimate payment instruments under the…
Ministry clarifies VAT imposition solely on premium basic necessities
The government will solely impose value-added tax (VAT) on premium basic necessities through amendment to Law No. 6 of 1983 on general provisions and taxation procedures (RUU KUP), according to the Finance Ministry. "Of course, not all basic necessities (will be subject to VAT). For instance, basic necessities sold at…
