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INDONESIA: Widodo wins parliamentary approval for tax changes

INDONESIA: Widodo wins parliamentary approval for tax changes | Speevr

Parliament’s Commission XI on Finance this week approved substantial changes to the country’s tax laws, with formal passage of the Bill on Harmonizing Tax Regulations expected next week. The most important part of the legislation in the near term is the VAT increase, as it improv…   Become a member to read the rest of […]

INDONESIA: Next week could be key in effort to bring down cases

INDONESIA: Next week could be key in effort to bring down cases | Speevr

The government is expected to extend the emergency restrictions on public activities (PPKM Emergency), which are scheduled to end on 20 July, by another 14 to 21 days. The measures cover Java and Bali, as well as 15 other regencies and cities. National Covid-19 weekly case growth…   Become a member to read the rest […]

INDONESIA: Widodo announces wider restrictions over half the country

INDONESIA: Widodo announces wider restrictions over half the country | Speevr

Measures will limit most commercial and social activities on Java and Bali until 20 July, with the goal of cutting in half the current new case rate of roughly 20,000 per day. Government is targeting raising the daily vaccination rate from roughly 0.25% of the population t…   Become a member to read the rest […]

INDONESIA: Finance wants to raise the VAT rate but will face stiff opposition

INDONESIA: Finance wants to raise the VAT rate but will face stiff opposition | Speevr

The government will discuss with parliament a possible increase in the current VAT rate of 10%, according to a presentation last week by Finance Minister Sri Mulyani Indrawati, although she did not specify what the target rate would be. In addition, the government is considering …   Become a member to read the rest of […]

INDONESIA: Why the sovereign wealth fund could punch well above its weight

INDONESIA: Why the sovereign wealth fund could punch well above its weight | Speevr

The new sovereign fund will have a modest capitalization initially, but its investment priorities will signal the government’s priorities. Whether the fund will evolve into a politically-directed entity or an effective catalyst for foreign and private investment is the m…   Become a member to read the rest of this article

INDONESIA: Widodo’s reforms in perspective

INDONESIA: Widodo’s reforms in perspective | Speevr

President Joko Widodo over the past three months implemented some of the most significant policy reforms since the early 2000s, specifically: The passage of the Omnibus Law on Job Creation, which streamlines investment-related rules across 79 laws. A new negative invest…   Become a member to read the rest of this article

INDONESIA: Draft regulation could result in a significant drop in severance pay

INDONESIA: Draft regulation could result in a significant drop in severance pay | Speevr

The Indonesian government is set to soon issue a regulation — possibly even by next week — that would cover the use of short-term labor contracts and may, based on the drafts available so far, result in significant reductions in the amount of separation pay for workers when a com…   Become a member to […]

SOUTHEAST ASIA: Malaysia, Indonesia struggle to contain Covid spikes before CNY

SOUTHEAST ASIA: Malaysia, Indonesia struggle to contain Covid spikes before CNY | Speevr

In a note last December, we highlighted the Philippines, Indonesia, and Malaysia as the countries to watch for possible post-holiday surges. Surprisingly, the Philippines appears to have avoided worsening the outbreak. However, the current movement and business restrictions in In…   Become a member to read the rest of this article

INDONESIA: Vaccination program will have to overcome three hurdles

INDONESIA: Vaccination program will have to overcome three hurdles | Speevr

The Sinovac vaccine has received the needed regulatory approvals, paving the way for the formal start of the vaccination program this week. The first vaccine supply will go to 2.6 million recipients. Although the initial distribution to provincial-level governments s…   Become a member to read the rest of this article

INDONESIA: Common ties, experience are key features of new cabinet appointments

INDONESIA: Common ties, experience are key features of new cabinet appointments | Speevr

President Joko Widodo today replaced six cabinet ministers, two of whom had been accused of corruption. Although maintaining party representation in the cabinet also often drives cabinet reshuffles, it did not seem to play as much a part in today’s changes. Rather, the changes …   Become a member to read the rest of this […]