Indonesia to press ahead with VAT hike, minister says

Quick Summary:

JAKARTA : Indonesia will next week confirm it is hiking the value-added tax (VAT) rate to 12 per cent, the Coordinating Minister for Economic Affairs said late on Tuesday, despite huge public pressure to delay the rise to avoid hurting people's spending power.

By law, the VAT hike to 12 per cent from 11 per cent currently is scheduled to be implemented in January.

"We will announce it next week," Airlangga Hartarto told reporters.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIndonesia

Topics: Week Minister Affairs Cent Rate Airlangga Jakarta Indonesia Economic Coordinating Hartarto

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 22:24:52 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 240 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 24094316

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