Business News
INDONESIAN MINISTRY OF FINANCE WILL IMPOSE NEW REGULATION ON E-COMMECE TAX TO RAISE COLLECTION
The Indonesian Ministry of Finance said that the Government will impose new tax on e-commerce to raise tax collection. Global consultant McKinsey projects spending in the Indonesian e-commerce market to rise to as much as $65 billion by 2022, from $8 billion last year, similar to the growth trajectory experienced…
BANK INDONESIA HOLDS KEY RATE AT 6 PERCENT
Indonesian Central Bank (BI) maintained its key rate at 6 percent announced by the BNI Governor Perry Warjiyo. The deposit and lending facility also maintained at 5.25 percent and 6,75 percent, respectively. BI Governor said that that the policy is in line with joint efforts by the central bank and…
Biodiesel policy fails to reduce diesel fuel imports: BPS
The mandatory distribution of a 20 percent blend of biodiesel ( B20 ) that was launched in early September has not reduced diesel fuel imports. Imports in November even increased to 845,082 tons, 26.10 percent higher than the figure in October, according to the data issued by Statistics Indonesia (BPS).…
Consumer goods tariff hike shows little effect in curbing imports
A government policy to impose higher import tariffs on 1,147 consumer goods has been unable to significantly discourage importers, with imports decreasing by less than 10 percent since the rule was implemented in October. “From January to September, the [monthly] value of imports was US$31.1 million. It only decreased to…
