Indonesia Tax

Chapter | Tax & Business from The Report: Indonesia 2020

The Indonesian government set a tax revenue target of Rp1786trn ($125.9bn) for the year and had successfully collected 86.5% of that figure by the end of December 2019. In 2020 the target was raised to Rp1861.7trn ($131.2bn). This chapter offers an overview of Indonesia’s tax system, including the proposed omnibus laws, international taxation, zero-rated services, tax concessions and the...

Indonesia is the world’s 16th-largest economy and presents an enticing opportunity for investors, with ongoing reform efforts and attractive demographics. Meanwhile, a booming start-up ecosystem signals the country’s rising consumer power and regional influence. While headwinds are expected to follow Covid-19, Indonesia’s strong foundations will help maintain momentum in the medium to long term.

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Indonesia has a young and vibrant population that is also tech savvy, energetic and full of new business ideas. Indonesia has become well known in South-east Asia for the frequency at which we produce new tech unicorns – start-ups valued at $1bn and above – and other dynamic business enterprises. Indeed, an Indonesian company became the region...

 

In 2019 Indonesia recorded an economic growth rate of 5.3%. From an output perspective, the agriculture, forestry and fisheries sectors, as well as trading and construction, significantly contributed to the country’s GDP. In terms of tax intake, the government set a revenue target of Rp1786trn ($125.9bn) for the year and had successfully...

 

Indonesia is the largest economy in South-east Asia, the world’s fourth-most-populous nation, the 10th-largest economy in terms of purchasing power parity and a member of the G20. PwC’s “World in 2050” report predicted that, by 2050, Indonesia will be the fourth-largest economy in the world. However, President Joko Widodo, commonly known as...

Indonesia is the world’s 16th-largest economy and presents an enticing opportunity for investors, with ongoing reform efforts and attractive demographics. Meanwhile, a booming start-up ecosystem signals the country’s rising consumer power and regional influence. While headwinds are expected to follow Covid-19, Indonesia’s strong foundations will help maintain momentum in the medium to long term.

 

Indonesia is currently at a pivotal juncture in terms of the development of both hard and soft infrastructure, which coincides with unprecedented positive consumer sentiment towards digital technologies.

 

Financial inclusion is a key priority for Indonesia’s government. The country has made significant strides in expanding access to its unbanked population. According to the World Bank, the banked population has increased from 20% in 2011 to 49% in 2017. These improvements are the result of priorities that the state has set, with specific regard...

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