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state-revenue

Indonesia’s budget deficit swells to $22.4b in July as revenue falls

Business 6 years ago

Indonesia’s budget deficit swells to $22.4b in July as revenue falls

The government collected state revenue of Rp 922.2 trillion, a decrease of 12.4 percent year-on-year (yoy) and about 54 percent of this year’s target.

Fitch affirms Indonesia’s BBB rating with stable outlook despite vulnerabilities

Business 6 years ago

Fitch affirms Indonesia’s BBB rating with stable outlook despite vulnerabilities

Fitch cited a favorable medium-term growth outlook and low government debt-to-GDP ratio against high dependence on external financing among the reasons for retaining the rating, but also noted issues around low state revenue and lagging structural indicators.

Focusing tax audits on high-net-worth individuals

Opinion 6 years ago

PREMIUM
Focusing tax audits on high-net-worth individuals

If the government imposes a wealth tax of just 2 percent on these HNWIs it could collect additional revenue of Rp 40.38 trillion, a sum more than enough to fund the Family Hope poverty alleviation program in 2020 (Rp 37.4 trillion).

Government unveils criteria for tech firms to collect VAT

Business 6 years ago

Government unveils criteria for tech firms to collect VAT

Over-the-top (OTT) technology firms appointed by the tax office as VAT collectors in July are expected to start collecting the taxes in August.

Indonesia increases COVID-19 budget again amid soaring deficit

Business 6 years ago

Indonesia increases COVID-19 budget again amid soaring deficit

The government has again increased its planned spending on Indonesia’s battle against the COVID-19 pandemic amid plunging tax revenue and a widening state budget deficit.

The rise of digital taxes during a pandemic

Opinion 6 years ago

The rise of digital taxes during a pandemic

This measure could also become a new source of state revenue during the enormous tax relaxation given by the government to business sectors affected by the COVID-19 pandemic.

Indonesia should turn to VAT, digital tax to offset shortfall in state revenue: Analysts

Business 6 years ago

Indonesia should turn to VAT, digital tax to offset shortfall in state revenue: Analysts

Indonesia should turn to value-added tax (VAT) and large tech companies to address the widening shortfall in state revenue, analysts have said.

State revenue to contract 10% as businesses suffer, tax incentives take effect: Sri Mulyani

Business 6 years ago

State revenue to contract 10% as businesses suffer, tax incentives take effect: Sri Mulyani

Finance Minister Sri Mulyani Indrawati said on Monday that state revenue would amount to Rp 1.76 quadrillion (US$65 billion) this year.

'File your tax returns': Tax office intensifies efforts to collect taxes as budget burdens multiply

Business 6 years ago

'File your tax returns': Tax office intensifies efforts to collect taxes as budget burdens multiply

The tax office is encouraging individuals to file their SPTs online as it has suspended direct face-to-face services in compliance with the government's social distancing policy to help limit the spread of COVID-19.

Lower income, rising debt expected as Indonesia unveils extra stimulus

Business 6 years ago

Lower income, rising debt expected as Indonesia unveils extra stimulus

The country recorded debt of Rp 4.82 quadrillion in January, a 30.21 percent debt-to-GDP ratio. The last time Indonesia recorded debt-to-GDP ratio of above 30 percent was during the 2008 financial crisis at 30.25 percent.

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