Indonesia's 2025 VAT Rate Increase

Indonesia's 2025 VAT Rate Increase

Reflections of office buildings in Jakarta, Indonesia, on December 21, 2024. The government raises the Value Added Tax (VAT) rate to 12 percent starting January 1, 2025. According to economist and Deputy Director of the Institute for Development of Economics and Finance (Indef), Eko Listyanto, the VAT increase reduces public consumption, thereby slowing down the economy, especially as Indonesia's economic growth is already decelerating. Meanwhile, data from the Central Statistics Agency (BPS) shows that inflation in November 2024, compared to the beginning of the year (January 2024), increases by 1.12%. (Photo by Afriadi Hikmal/NurPhoto)

  • Product Code
  • ILEA003762847
  • Registered date
  • 2024/12/21 00:00:00
  • Credit
  • NurPhoto / Kyodo News Images
  • Media source
  • Afriadi Hikmal/NurPhoto
  • Media size
  • 4097 × 2731 pixel
  • Resolution
  • 300 dpi
  • Deployment size
  • 7.25(MB)*
  • Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos
    Indonesia's 2025 VAT Rate Increase

    Indonesia's 2025 VAT Rate Increase

    Workers complete the construction of a building's roof in Jakarta, Indonesia, on December 21, 2024. The government raises the Value Added Tax (VAT) rate to 12 percent starting January 1, 2025. According to economist and Deputy Director of the Institute for Development of Economics and Finance (Indef), Eko Listyanto, the VAT increase reduces public consumption, thereby slowing down the economy, especially as Indonesia's economic growth is already decelerating. Meanwhile, data from the Central Statistics Agency (BPS) shows that inflation in November 2024, compared to the beginning of the year (January 2024), increases by 1.12%. (Photo by Afriadi Hikmal/NurPhoto)
      Indonesia's 2025 VAT Rate Increase

      Indonesia's 2025 VAT Rate Increase

      Evening traffic occurs in the central business district of Jakarta, Indonesia, on December 21, 2024. The government plans to raise the Value Added Tax (VAT) rate to 12 percent starting January 1, 2025. According to economist and Deputy Director of the Institute for Development of Economics and Finance (Indef), Eko Listyanto, the VAT increase reduces public consumption, thereby slowing down the economy, especially as Indonesia's economic growth is already decelerating. Meanwhile, data from the Central Statistics Agency (BPS) shows that inflation in November 2024, compared to the beginning of the year (January 2024), increases by 1.12%. (Photo by Afriadi Hikmal/NurPhoto)
        Indonesia's 2025 VAT Rate Increase

        Indonesia's 2025 VAT Rate Increase

        Evening traffic occurs in the central business district of Jakarta, Indonesia, on December 21, 2024. The government plans to raise the Value Added Tax (VAT) rate to 12 percent starting January 1, 2025. According to economist and Deputy Director of the Institute for Development of Economics and Finance (Indef), Eko Listyanto, the VAT increase reduces public consumption, thereby slowing down the economy, especially as Indonesia's economic growth is already decelerating. Meanwhile, data from the Central Statistics Agency (BPS) shows that inflation in November 2024, compared to the beginning of the year (January 2024), increases by 1.12%. (Photo by Afriadi Hikmal/NurPhoto)
          Indonesia's 2025 VAT Rate Increase

          Indonesia's 2025 VAT Rate Increase

          Workers complete the construction of a building's roof in Jakarta, Indonesia, on December 21, 2024. The government raises the Value Added Tax (VAT) rate to 12 percent starting January 1, 2025. According to economist and Deputy Director of the Institute for Development of Economics and Finance (Indef), Eko Listyanto, the VAT increase reduces public consumption, thereby slowing down the economy, especially as Indonesia's economic growth is already decelerating. Meanwhile, data from the Central Statistics Agency (BPS) shows that inflation in November 2024, compared to the beginning of the year (January 2024), increases by 1.12%. (Photo by Afriadi Hikmal/NurPhoto)
            The Decline Of The Middle Class In Indonesia

            The Decline Of The Middle Class In Indonesia

            People walk in the business district during rush hours in Jakarta, Indonesia, on September 12, 2024. According to the Coordinating Minister for Economic Affairs, Muhadjir Effendy, the government continues to seek solutions to the issue of the shrinking middle-class population, including the provision of social protection such as health care and employment. The decline in the middle-class population in Indonesia is a critical issue that requires serious attention from various stakeholders. The middle class plays a crucial role in the country's economy, as they are key consumers, providers of skilled labor, and drivers of innovation and economic growth. When the middle class shrinks, the effects can be felt widely, ranging from reduced purchasing power to increased economic instability. (Photo by Afriadi Hikmal/NurPhoto)
              The Decline Of The Middle Class In Indonesia

              The Decline Of The Middle Class In Indonesia

              People walk in the business district during rush hours in Jakarta, Indonesia, on September 12, 2024. According to the Coordinating Minister for Economic Affairs, Muhadjir Effendy, the government continues to seek solutions to the issue of the shrinking middle-class population, including the provision of social protection such as health care and employment. The decline in the middle-class population in Indonesia is a critical issue that requires serious attention from various stakeholders. The middle class plays a crucial role in the country's economy, as they are key consumers, providers of skilled labor, and drivers of innovation and economic growth. When the middle class shrinks, the effects can be felt widely, ranging from reduced purchasing power to increased economic instability. (Photo by Afriadi Hikmal/NurPhoto)
                The Decline Of The Middle Class In Indonesia

                The Decline Of The Middle Class In Indonesia

                People walk in the business district during rush hours in Jakarta, Indonesia, on September 12, 2024. According to the Coordinating Minister for Economic Affairs, Muhadjir Effendy, the government continues to seek solutions to the issue of the shrinking middle-class population, including the provision of social protection such as health care and employment. The decline in the middle-class population in Indonesia is a critical issue that requires serious attention from various stakeholders. The middle class plays a crucial role in the country's economy, as they are key consumers, providers of skilled labor, and drivers of innovation and economic growth. When the middle class shrinks, the effects can be felt widely, ranging from reduced purchasing power to increased economic instability. (Photo by Afriadi Hikmal/NurPhoto)
                  The Decline Of The Middle Class In Indonesia

                  The Decline Of The Middle Class In Indonesia

                  People walk in the business district during rush hours in Jakarta, Indonesia, on September 12, 2024. According to the Coordinating Minister for Economic Affairs, Muhadjir Effendy, the government continues to seek solutions to the issue of the shrinking middle-class population, including the provision of social protection such as health care and employment. The decline in the middle-class population in Indonesia is a critical issue that requires serious attention from various stakeholders. The middle class plays a crucial role in the country's economy, as they are key consumers, providers of skilled labor, and drivers of innovation and economic growth. When the middle class shrinks, the effects can be felt widely, ranging from reduced purchasing power to increased economic instability. (Photo by Afriadi Hikmal/NurPhoto)
                    Monthly Inflation Rate In Indonesia

                    Monthly Inflation Rate In Indonesia

                    Visitors are sitting in the quiet coffee shop in Jakarta, Indonesia, on August 2, 2024. Indonesia's Central Statistics Agency (BPS) is announcing a deflation of 0.18 percent in July 2024. On an annual basis or year on year, the country's inflation is at 2.13 percent. The Central Statistics Agency is also noting that food, transportation, and recreation and entertainment are the main contributors to inflation in July 2024. (Photo by Afriadi Hikmal/NurPhoto)
                      Monthly Inflation Rate In Indonesia

                      Monthly Inflation Rate In Indonesia

                      Visitors are sitting in the quiet coffee shop in Jakarta, Indonesia, on August 2, 2024. Indonesia's Central Statistics Agency (BPS) is announcing a deflation of 0.18 percent in July 2024. On an annual basis or year on year, the country's inflation is at 2.13 percent. The Central Statistics Agency is also noting that food, transportation, and recreation and entertainment are the main contributors to inflation in July 2024. (Photo by Afriadi Hikmal/NurPhoto)