The Finance Ministry has collected more than Rp 2.5 trillion (US$166.8 million) in value-added tax (VAT) and income tax obtained from digital companies and services in the first six months of this year as it taps new revenue streams to offset higher spending and keep fiscal consolidation on track.

The government has allowed intellectual property to be used to access financing in a bid to boost the country’s creative economy, but wide-scale adoption of the scheme will take time.

The Finance Ministry has extended several pandemic-related tax incentives until the end of this year, as the government seeks to buttress the economic recovery.

While the levy exemption might help boost CPO exports in the short term, critics say that the key to stabilizing FFB prices is to involve farmers in determining them.

The government says five oil and gas working areas and one exploitation working area offered across the country through the first bidding round this year come with “more attractive” terms and conditions.

Bank Indonesia has held the country’s most important interest rate at 3.5 percent while central banks around the world are hiking rates in response to growing price pressure.

The Financial Services Authority (OJK) has announced its priorities in the banking and nonbanking sector, as well as the capital market, following the inauguration of the regulator’s new leaders.

The United Nations Development Program (UNDP) is working with the Indonesian Chamber of Commerce and Industry (KADIN) to push initiatives ranging from clean energy to human rights in the private sector.

Tourists will be charged a conservation fee of Rp 3.75 million to visit Labuan Bajo’s tourist hotspots in an effort expected to limit the number of visitors to some 200,000 a year.

The oil and gas deficit is likely to grow larger, with projections indicating a sharp rise in consumption in the coming decades to 2050.

The decision by the world's biggest palm oil exporter could further depress prices, which have fallen by about 50 percent since late April to their lowest in over a year.

Indonesia, as the current president of G20, repeatedly berated the WTO for its inability to bring justice for developing countries in the international trade system, especially in the case of Jakarta's trade disputes with the European Union.

IMF warns that central bank digital currency (CBDC) may lower competitiveness of a currency in its country of origin, risking its sovereignty over stronger, foreign exchange.  

The government is enacting the nationwide B35 biodiesel program by the end of July as an effort to boost the domestic use of palm oil to help raise CPO prices.

Civil groups call regulations authoritarian, causing public disturbance

The Standing Lending Facility rate was raised to 15.50 percent while the Standing Deposit Facility Rate rose to 14.50 percent, the highest in 21 years.

In a media briefing in Surakarta, Central Java, Investment Ministry spokesperson Tina Talisa said around 1.5 million businesses had received a business identification number (NIB) since the start of the year.

The incentives include a streamlined visa process, faster access to the financial and banking system and attractive commercial and residential leasing, Trade Minister Thani Al Zeyoudi told a news conference in Dubai.

Asked if the Singapore Food Agency (SFA) has received any indication from the Malaysian authorities as to when they might review or end the ban, Minister for Sustainability and the Environment Grace Fu said: “The answer is no.”

The second tax amnesty has dug up almost US$40 billion in hidden assets declared by Indonesian taxpayers, yielding over Rp 61 trillion in additional tax revenue.

In a Facebook post on Thursday (June 30), the Singapore Food Agency (SFA) said Indonesia has been approved as a new source of frozen, chilled and processed chicken meat for the country.

The government is optimistic that the budget deficit will drop to less than 4 percent of GDP this year despite increased spending to shield Indonesians from global shocks.

Pertamina now requires that customers register their vehicles on its website to buy subsidized gasoline or diesel. That way, the state-owned oil and gas company seeks to ensure the costly measure is not abused.

Russia’s invasion of Ukraine could accelerate the world’s transition to clean energy, Lord Mayor of the City of London Vincent Keaveny told The Jakarta Post.

The government will require the use of its COVID-19 app PeduliLindungi for the purchase of bulk cooking oil in a bid to prevent hoarding or other malfeasance.

Organized workers have registered a petition for a judicial review of the 2011 Law on the drafting of laws and regulations, which serves as the legal framework for the controversial Job Creation Law.

The government could delay implementing the carbon tax for a second time.

The decision, which Juul said it would appeal, clears the way for rival brands to increase their share of the market it once dominated.

Indonesia’s central bank will not increase its benchmark seven-day reverse repo rate (7DRRR) nor its lending or deposit facility rates, even though it anticipates full-year inflation slightly above its target range.

Indonesia’s Transportation Ministry is pushing for progress on infrastructure work carried out in cooperation with Japan.