Business News
Foreign Tourist Arrivals, Hotel Occupancy Rate Yet to Recover in October: BPS
Tourism has yet to recover from the pandemic-induced slump, with foreign tourist arrivals and hotel occupancy rate remaining below normal levels, Statistics Indonesia (BPS) data have shown. Foreign tourist arrivals picked up slightly to 158,200 in October, an increase of 4.57 percent month-to-month (mtm) from September, according to BPS. However,…
Indonesia's Textile-Apparel Sector Contracts 8.37% in Q2
Indonesia’s textile and textile products sector, which has contributed significantly to economic growth, contracted by 8.37 per cent in the second quarter of 2020 as a result of a decline in domestic consumption and exports in the sector, according to industry ministry data, which showed the sector bounced back to…
OJK Promotes 2 Capital Market Rules Issued at the End of 2020, SMEs Can Raise Funds
The Financial Services Authority (OJK) targets two strategic policies in the capital market to be issued in the remainder of 2020. The two regulations are currently in process at the Ministry of Law and Human Rights for enactment. Head of the OJK 1A Capital Market Supervision Department, Luthfy Zain Fuady…
Government Will Withdraw Foreign Companies' Electronic Transaction Tax
The government stated that it would continue to collect income tax (PPh) or electronic transaction tax (PTE) from trading businesses through electronic systems or foreign digital companies operating in Indonesia. "For income tax, this is more on how to settle the sharing of profits," said Finance Minister Sri Mulyani Indrawati…
