- Government to reveal more about 12% VAT increase and other economic policies on Monday
- Announcement to be made at the Coordinating Ministry for Economic Affairs headquarters
- Final calculations for VAT increase are being completed
- Staple commodities will continue to be exempt from VAT
- On December 3, 2024, fiscal policies for next year’s taxes and business incentives were discussed
- Finalizing sales tax on luxury goods for the automotive sector and VAT for the property sector
- New incentives planned for labor-intensive industries and adjustments for machinery rejuvenation
- Government aims to enhance competitiveness of national industries without foreign investment
- Possibility of additional incentives to improve people’s purchasing power
- Current social assistance programs are in place to support purchasing power
Source: en.antaranews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
