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Indonesian Government Launches Multi-Department Joint Warehouse Inspections Ahead of Ramadan
It is reported that seven Indonesian departments have been conducting joint warehouse inspections in Jakarta, Tangerang, and surrounding areas since February 11, expected to last two weeks. This operation covers multiple fields with high compliance requirements and severe pena...
China and Indonesia Renew 400 Billion Yuan Bilateral Local Currency Swap Agreement
The People's Bank of China and Bank Indonesia recently renewed the bilateral local currency swap agreement, with a swap size of 400 billion RMB / 878 trillion IDR. The agreement is valid for five years and can be extended upon mutual consent. The People's Bank of China stated ...
Process of Registering NPWP in Indonesia's New Tax System
Individuals and entities meeting specific tax obligation standards in Indonesia must register for a Taxpayer Identification Number (NPWP). The Directorate General of Taxes officially launched the coretax system on January 1st. Below is the process for registering NPWP through ...
Nickel Production Increases, Indonesian Government Adjusts Policies to Support Local Development
The Secretary General of the Indonesian Nickel Miners Association (APNI) stated that in 2024, Indonesia's nickel production approached 300 million metric tons per year, reaching 298.4 million metric tons. From 2023 to 2024, Indonesia's nickel production has been increasing, ma...
Prabowo to Crack Down on Illegal Smuggling to Protect State Revenue
President Prabowo stated that he continues to receive reports of illegal cases causing losses to the state, such as illegal mining, financial report manipulation, and tax arrears. He sees large amounts of wealth being smuggled, which is both illegal and unfair, as perpetrators...
Indonesia Raises Retirement Age to 59
The Indonesian government has started raising the retirement age for Indonesian workers to 59 this year. According to government regulations, starting from 57 years old in 2019, the retirement age will increase by one year every three years until it eventually reaches 65. Work...
China Welcomes Indonesia as Full Member of BRICS
A spokesperson for the Ministry of Foreign Affairs stated that China welcomes and warmly congratulates Indonesia on becoming a full member of BRICS. Indonesia, as a major developing country and an important force in the Global South, highly identifies with the BRICS spirit and...
Indonesia's Trade Ministry Continues to Focus on Cracking Down on Illegal Imports This Year
Indonesia's Minister of Trade confirmed that the task force for illegal imports will have its term extended to 2025. The term of the Illegal Import Task Force ended in December 2024, and the Minister of Trade issued a regulation establishing the task force to supervise specifi...
Indonesian Official Regulations on VAT Rates Applicable to Different Commodities
The following goods are subject to 12% VAT: luxury residences such as mansions, apartments, condominiums, and townhouses priced at IDR 30 billion or more; hot air balloon groups and navigable hot air balloons, other aircraft without propulsion; firearms and ammunition sets for...
Plan to Increase VAT to 12% in Indonesia Has Been 'Canceled'
As a New Year's gift to the people in 2025, President Prabowo canceled the plan to increase VAT (PPN) from 11% to 12%. After the policy adjustment, the 12% VAT will only apply to luxury goods and services consumed by the wealthy, such as private jets, yachts, and luxury homes....
Indonesian Government Forms Task Force to Address Imports Threatening MSMEs
The Coordinating Ministry for Community Empowerment will establish an import task force aimed at monitoring incoming goods to prevent disruption to micro, small, and medium enterprises (MSMEs). The Coordinating Minister stated that the task force is being formed to supervise a...
Indonesia's 2025 Minimum Wage Standard Increased by 6.5%
Recently, Indonesia announced that starting from 2025, the minimum wage standards (UMP) in all 38 provinces will be uniformly increased by 6.5%. The core goal of this adjustment is to adapt to the continuous development of the socio-economy and alleviate the pressure of inflat...