- Indonesia’s President Prabowo Subianto announces VAT increase to 12% starting January 1
- The VAT hike will only affect luxury goods and services
- This decision targets items already subjected to luxury sales tax like private jets, yachts, and luxury homes
- The move aims to clarify confusion over which items would face the VAT increase
- This policy reverses earlier statements from finance ministry officials who had indicated a broader application of the VAT hike
Source: reuters.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.
