Government unveils criteria for tech firms to collect VAT

The Taxation Directorate General has unveiled the criteria for technology firms expected to collect value-added tax (VAT), including the transaction value and traffic, as the government ramps up efforts to increase state revenue during the coronavir

Government unveils new rule to guarantee loans for MSMEs as risk aversion rises

The government has unveiled a new rule to guarantee working capital loans for micro, small and medium enterprises (MSMEs) in a bid to boost credit disbursement from banks, as risk aversion increases amid the COVID-19 pandemic.Finance Ministry Regul

Government pays $3.76b for land in 77 strategic projects

The Finance Ministry’s State Asset Management Agency (LMAN) has reimbursed Rp 53.3 trillion (US$3.76 billion) owed to state-owned companies for land acquisition in 77 strategic national projects, including toll roads and irrigation systems, as

Government open to possibility of BI buying zero-coupon bonds to aid state budget

The government has opened the possibility of Bank Indonesia (BI) buying government bonds with a zero-coupon rate as part of a “burden-sharing” scheme to finance the battle against the COVID-19 pandemic, a senior minister said on Monday.

Government won’t sell zero-coupon bonds to Bank Indonesia: Sri Mulyani

The government has stated it will not sell sovereign debt papers with a zero coupon rate to Bank Indonesia (BI) as part of its efforts to close the widening state budget deficit despite pressure from lawmakers to do so.Finance Minister Sri Mulyani

Government places $2.12b in state-owned banks to accelerate economic recovery

The government announced on Wednesday that it would place Rp 30 trillion (US$2.12 billion) in state-owned banks, associated under the auspices of Himbara, to be channeled as loans to businesses to help support economic recovery amid the COVID-19 pan

Government encourages innovation to reduce raw material imports

The government is calling on companies to boost their research and development to produce import substitutes to help reduce Indonesia’s reliance on foreign goods.The Industry Ministry has expressed hope such products could help it meet the ta

Government suspends licensing for new savings, loan cooperatives amid liquidity bind

The Cooperatives and Small and Medium Enterprises Ministry has suspended the licensing of new savings and loan cooperatives for three months following an apparent liquidity bind in cooperative KSP Indosurya Cipta.The ministry’s secretary, Rul