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Indonesia's President Says VAT Hike to Apply Only on Luxury Goods

December 31, 2024, 07.06 PM
Indonesia's President Says VAT Hike to Apply Only on Luxury Goods

Prabowo Subianto said a planned increase in value-added tax (VAT) rate by one percentage point to 12% will apply only to luxury goods and services.

Source: Reuters | Editor: Herlina Kartika Dewi

TAX - JAKARTA. Indonesia's President Prabowo Subianto on Tuesday said a planned increase in value-added tax (VAT) rate by one percentage point to 12% effective Wednesday, Jan. 1, will apply only to luxury goods and services.

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