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)

  • Product Code
  • ILEA003762850
  • Registered date
  • 2024/12/21 00:00:00
  • Credit
  • NurPhoto / Kyodo News Images
  • Media source
  • Afriadi Hikmal/NurPhoto
  • Media size
  • 6720 × 4480 pixel
  • Resolution
  • 300 dpi
  • Deployment size
  • 22.64(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

    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

          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)
            Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

            Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

            People are at a bus stop in the business district of Jakarta, Indonesia, on October 10, 2024. According to the Expert Council of the National Campaign Team (TKN), the state budget of elected President Prabowo falls short by Rp 300 trillion to achieve an economic growth target of 8 percent. Over the past decade, Indonesia's economic growth stagnates around 5 percent. The target set by President Jokowi during the 2014 presidential campaign, which aims to achieve a 7 percent growth rate, is also never realized. (Photo by Afriadi Hikmal/NurPhoto)
              Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

              Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

              People cross a pedestrian bridge in the business district of Jakarta, Indonesia, on October 10, 2024. According to the Expert Council of the National Campaign Team (TKN), the state budget of elected President Prabowo falls short by Rp 300 trillion to achieve an economic growth target of 8 percent. Over the past decade, Indonesia's economic growth stagnates around 5 percent. The target set by President Jokowi during the 2014 presidential campaign, which aims to achieve a 7 percent growth rate, also never realizes. (Photo by Afriadi Hikmal/NurPhoto)
                Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

                Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

                Motorcycle taxis are caught in traffic congestion in the business district of Jakarta, Indonesia, on October 10, 2024. According to the Expert Council of the National Campaign Team (TKN), the state budget of elected President Prabowo falls short by Rp 300 trillion to achieve an economic growth target of 8 percent. Over the past decade, Indonesia's economic growth stagnates around 5 percent. The target set by President Jokowi during the 2014 presidential campaign, which aims to achieve a 7 percent growth rate, is also never realized. (Photo by Afriadi Hikmal/NurPhoto)
                  Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

                  Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

                  A passenger in a truck passes through the business district of Jakarta, Indonesia, on October 10, 2024. According to the Expert Council of the National Campaign Team (TKN), the state budget of elected President Prabowo falls short by Rp 300 trillion to achieve an economic growth target of 8 percent. Over the past decade, Indonesia's economic growth stagnates around 5 percent. The target set by President Jokowi during the 2014 presidential campaign, which aims to achieve a 7 percent growth rate, is also never realized. (Photo by Afriadi Hikmal/NurPhoto)
                    Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

                    Prabowo's State Budget Shortfalls By Rp 300 Trillion To Achieve Economic Growth Target

                    Motorcyclists pass through the business district of Jakarta, Indonesia, on October 10, 2024. According to the Expert Council of the National Campaign Team (TKN), the state budget of elected President Prabowo falls short by Rp 300 trillion to achieve an economic growth target of 8 percent. Over the past decade, Indonesia's economic growth stagnates around 5 percent. The target set by President Jokowi during the 2014 presidential campaign, which aims to achieve a 7 percent growth rate, is also never realized. (Photo by Afriadi Hikmal/NurPhoto)
                      The Decline Of The Middle Class In Indonesia

                      The Decline Of The Middle Class In Indonesia

                      Traffic scene in Jakarta, Indonesia, on September 12, 2024, during rush hours. The Coordinating Minister for Economic Affairs, Muhadjir Effendy, states that the government seeks 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)