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World bank positive about Indonesia’s economic outlook

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JAKARTA: Indonesia’s economic growth touched 5.2 percent year-on-year (y/y) in the fourth quarter of 2017, the highest growth in six quarters. Accelerating economic growth was driven by higher domestic demand, stronger investment, and rising private and government consumption. Albeit slowing, Indonesia’s export and import growth remained robust due to a sustained recovery in global trade and commodity prices. Net exports, ... Read More »

ADB projects economic growth of 5.3 percent in 2018

JAKARTA: The Asian Development Bank (ADB) has estimated that the Indonesian economy will expand by 5.3 percent year-on-year (yoy) in 2018 and 2019 on the back of rising investment and an improvement in household consumption. “Increasing investment has been witnessed mainly in the construction sector in line with the completion of various infrastructure projects and the primary sector, with growing ... Read More »

Benefits Of Outsourcing HR Services In Indonesia

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JAKARTA: Outsourcing HR services in Indonesia allows you to grow your business faster. Whether it be outsourcing payroll, fulfilling tax compliance or hiring and terminating employees, engaging an outside agency frees you up to concentrate on what you are good at and can help make sure you find the right people the first time. Research shows that 75 percent of ... Read More »

Indonesia warns to retaliate against possible CPO export restrictions

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JAKARTA:  Indonesian Trade Minister Enggartiasto Lukita said on Monday that Indonesia had set plans to retaliate possible restrictions on the nation’s Crude Palm Oil (CPO) exports to European Community (EC) and the United States. Speaking after his meeting with Vice President Jusuf Kalla, Lukita said he had asked for the mandate to implement the retaliation plans against countries supporting the ... Read More »

Indonesia $2.5t Economy by 2025

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JAKARTA: Indonesia is currently at a critical juncture. On one hand, its economy, in nominal terms, has grown at a solid 9 percent compounded annual growth rate, or CAGR, over the last  five years, but a young and aspirational population makes sustaining that growth-momentum imperative. At the same time, President Joko “Jokowi” Widodo’s government is more than halfway into its current ... Read More »

Indonesia goes hi-tech in hunt for tax assets after amnesty

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JAKARTA: Indonesia’s tax office plans to spend hundreds of millions of dollars to update its outdated technology to boost low tax compliance and raise revenue collection in Southeast’s largest economy, the country’s tax chief told Reuters. Indonesia completed one of the world’s most successful tax amnesties in 2017, but its very success has created headaches. The tax office has to use ... Read More »

Indonesia goes hi-tech in hunt for tax assets after amnesty

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JAKARTA: Indonesia’s tax office plans to spend hundreds of millions of dollars to update its outdated technology to boost low tax compliance and raise revenue collection in Southeast’s largest economy, the country’s tax chief told Reuters. Indonesia completed one of the world’s most successful tax amnesties in 2017, but its very success has created headaches. The tax office has to ... Read More »

Indonesia to import 22kt of beef and offal for Ramadhan

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JAKARTA: Indonesia’s Ministry of Agriculture has given a beef & offal import recommendation of 22,221 tonnes to importers to meet demand during the Ramadhan (fasting) month this year. I Ketut Diarmita, Director General of Livestock and Animal Health, said of the figure, the recommendation for beef is 20,957 tonnes while offal is 1264 tonnes. The imports are planned to be ... Read More »

Indonesia announces simpler regulation on tax holiday

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JAKARTA: The Indonesian government on Monday announced that it would soon enact a new regulation on a tax holiday to simplify the procedure to allow investors to obtain the fiscal facility. Robert Pakpahan, the director general of taxation, said the new regulation would be signed by Finance Minister Sri Mulyani Indrawati and it would be implemented soon. Under the new ... Read More »

Metals and mining market tn Indonesia analysis & trends

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JAKARTA: Metals and Mining in Indonesia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. The metals and mining industry consists of the aluminum, iron and steel, precious ... Read More »

Indonesia to offer investors a simplified tax-holiday program

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JAKARTA: Indonesia will unveil a simplified scheme for tax holidays next week and state oil firm PT Pertamina should be among the first to benefit, government officials said. Boosting investment is a priority for President Joko Widodo as household consumption – the main engine of growth for Southeast Asia’s largest economy – has remained sluggish in recent years. Under different ... Read More »

Indonesia New Zealand agree to enhance bilateral ties

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JAKARTA: The agreement was reached during President Joko Widodo`s state visit to New Zealand on March 18-19, 2018. The visit, undertaken at the invitation of Prime Minister of New Zealand Jacinda Ardern, was the first by an Indonesian leader in 13 years. Moreover, Prime Minister Ardern praised the New Zealand-Indonesia business forum held in Auckland on March 16, 2018, and ... Read More »

Government to impose excise on plastic in May

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JAKARTA: The government plans to introduce an excise on plastic in May to reduce the use of the material. The Finance Ministry’s customs and excise director general, Heru Pambudi, said in Jakarta on Monday that a draft of a government regulation was being discussed by the relevant government agencies. “An interministerial committee tasked with drafting the regulation is working now,” ... Read More »

Turning down heat in Indonesia’s oil palm industry

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JAKARTA: In Indonesia, palm oil is a hot industry in more ways than one. In 2015 alone, it contributed USD 20.75 billion to the country’s export revenue. Oil palm plantations cover more than 14 million hectares of the country and, together with Malaysia’s, dominate the global market. However, fire is still widely used in the development and planting of oil ... Read More »

Indonesia central bank holds rates keeps eye on rupiah

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JAKARTA:  Indonesia’s central bank on Thursday kept its policy rate unchanged, as expected, saying its stance was sufficient to support the economy and pledged to keep the rupiah currency in line with fundamentals. The decision came shortly after the Federal Reserve, as anticipated, hiked US rates. Central banks in New Zealand, the Philippines and Taiwan also held their policy rates ... Read More »

Indonesian CPO exports not affected by duty increase in India

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JAKARTA: Trade Minister Enggartiasto Lukita said Indonesia`s CPO export to India has not been disrupted by the import duty increase imposed by the country. “Our exports remain high and have not yet been affected,” Lukita said at the Coordinating Ministry for Economic Affairs Building in Jakarta on Wednesday. Lukita said the government has sent a formal letter on the increase ... Read More »

Indonesia plans to import 9 mil barrels of gasoline in Apr

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JAKARTA: Indonesia’s state-owned Pertamina plans to import around 9 million barrels of gasoline in April, unchanged from the estimate for March, based on a survey of market participants last week. The estimates provided by market watchers for April spanned the range of 8.5 million barrels to 9.5 million barrels. They were unable to provide a breakdown of volumes between the ... Read More »

Indonesian president’s visit marks 60 years of relations with NZ

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JAKARTA: A lone protester has yelled as Indonesian President Joko Widodo paid his respects at the Pukeahu National War Memorial in Wellington. The president has begun a state visit to New Zealand to mark 60 years of diplomatic relations between this country and Indonesia. hrough a translator Widodo thanked Reddy for the welcome and said he “came with a message of friendship from ... Read More »

Indonesian government warned about trade deficit

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JAKARTA: The February trade deficit was lower than in January, but it needs serious attention because it occurred for three consecutive months,” said BPS head Suhariyanto in Jakarta on Thursday. BPS announced that Indonesia booked a US$116 million trade deficit in February, bringing the deficit year-on-year to $872 million after Indonesia had enjoyed trade surpluses in the last three years. ... Read More »

Tax revenue realization growth of Indonesia strong far in 2018

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JAKRATA: This strong performance is underpinned by a 20.3 percent (y/y) increase in non-oil & gas income tax to IDR 88.7 trillion (approx. USD $6.5 billion) and a 18.4 percent (y/y) increase in value-added tax (VAT) to IDR 67 trillion (approx. USD $4.9 billion) over the aforementioned period. Yon Arsal, Director of Tax Revenue and Compliance at the Directorate General ... Read More »