Business News
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…
Traceable: Stakeholders Work to Promote Digital Sharia Economy
Islamic fintech and finance institutions seek to improve Indonesians’ awareness of digital sharia economy and services given untapped potential in the industry. A recent survey by the Indonesia Waqf Board (BWI) showed that Indonesians only scored 50.4 on waqf (religious endowment) literacy, with the board’s vice chairman, Imam Saptono, saying…
