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)

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  • ILEA003762848
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  • NurPhoto / Kyodo News Images
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  • Afriadi Hikmal/NurPhoto
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    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)
      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)
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