- Indonesia enacted MoF Regulation No. 131/2024 for VAT framework
- VAT rate to increase to 12% by 2025
- Key provisions include tax base calculation for luxury and non-luxury goods
- Input Tax Credit available for businesses
- Example calculations provided for non-luxury goods
- Government aims to streamline VAT system and aid businesses in transition to new rate
Source: mamsolutions.net
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.
