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Economy minister signs agreement to facilitate exports to Indonesia

JAKARTA: Minister of National Economy Abeer Odeh, Sunday signed a memorandum of understanding with her Indonesian counterpart to facilitate exporting products to Indonesia. The agreement, which is a product of bilateral efforts to enhance relations between the two countries, was signed on the sidelines of the 11th ministerial conference of the World Trade Organization held in the Argentine capital Buenos ... Read More »

Indonesia’s Export and investment will be better

JAKARTA: The Indonesian economy in 2018 will continue to grow. In particular, exports and investments will show significant improvement. “So we see exports and investment will continue to provide a good role for economic growth in 2018,” said Governor of Bank Indonesia. According to him, the last few months have shown that export is rising quite high and the contribution ... Read More »

Jokowi appoints Robert Pakpahan as new tax chief

JAKARTA: President Joko “Jokowi” Widodo has approved a proposal from Finance Minister Sri Mulyani Indrawati to appoint Robert Pakpahan, 58, as the new director general of taxation. An official at the Presidential palace told the Jakarta post on Thursday that Robert, currently the ministry’s financing and risk management director general, would assume the role on Dec. 1 to replace Ken ... Read More »

Indonesia sanctions feed wheat imports,

JAKARTA: Indonesia’s Ministry of Trade recently confirmed that it has allowed wheat imports for animal feed. “We have given the permit. Feed millers should have used it for import realisation,” said Veri Anggriono Sutiarto, Import Director of the Directorate General of Foreign Trade. Previously, companies incorporated in the Indonesian Feed Producers Association (GPMT) applied for feed wheat import permit with ... Read More »

Indonesian government plans to impose import taxes on software, books and other intangible goods,

JAKARTA: The government is planning to implement the new online tax starting in January. But it is currently constrained by a world trade organization (WTO) moratorium on charging import tariffs for intangible goods. The moratorium is set to expire at the end of the year, but some countries are lobbying for the intangible tariff moratorium to be extended in the ... Read More »

Indonesia seeks to impose import duties on intangible goods,

  Indonesia seeks to impose import duties on intangible goods, JAKARTA: Indonesia is looking to impose import duties  on intangible goods, such as electronic books and software, Finance Minister Sri Mulyani Indrawati has said. She earlier said that Indonesia was bound by a World Trade Organization (WTO) moratorium that banned developing countries charging import tariffs on intangible goods traded electronically. ... Read More »

WTO rules against Indonesia in US coated paper tax dispute,

JAKARTA: On December 6, 2017, a world Trade organization panel ruled in favor of US authorities in a dispute concerning trade dispute duties levied by the United States on Indonesian exporters of coated paper, having earlier twiced deferred forming a panel.In its ruling against Indonesia, the panel rejected all challenges to the US anti-dumping duties and countervailing duties, which were ... Read More »

Indonesia needs aggressive fiscal policy: Minister

JAKARTA: Indonesia needs more aggressive fiscal policy to spur demand and investment in Southeast Asia’s largest economy, according to chatib barsi, finance minister. Efforts to kick start economic growth through eight interest rate reductions since the beginning of 2016 have failed to yield desired results and President Joko Widodo may now need to pursue a more expansionist fiscal policy, Basri ... Read More »

Police foil smuggling of 600 thousand ecstasy pills from Netherlands

JAKARTA: Team from Directorate of Drugs at National Police (Polri) Headquarters managed to thwart the drug-trafficking type of ecstasy that is circulated by the Netherlands-Jakarta international ring. In the foiling effort, officers arrested six suspects and secured 243.20 kilograms of ecstasy drugs packaged in 120 packs, totaling 600 thousand pills. “Six suspects and hundreds of thousands of ecstasy pills are ... Read More »

Indonesian agribusiness giant APRIL outed in Paradise Papers

  JAKARTA: Indonesia’s second-largest pulp and paper firm routed billions of dollars through a network of offshore shell companies, likely to minimize its tax burden in the Southeast Asian country, where it has drained vast swaths of carbon-rich peatland in order to establish vast timber estates. The company, APRIL, also sought the removal of an environmental condition from a $600 ... Read More »

Indonesia Oct inflation seen easing slightly

JAKARTA: Indonesia’s annual inflation likely eased for a fourth consecutive month in October, a Reuters poll showed, as food prices were seen under control. The consumer price index (CPI) likely rose 3.68 percent in October on annual basis, compared with 3.72 percent in September, according to the median forecast from 18 analysts polled by Reuters. The annual core inflation rate, ... Read More »

Jakarta aggrieved by China’s ban on Indonesian mangosteens

  JAKARTA: Indonesia is experiencing friction with its largest trading partner, China, over access to the Chinese market for its mangosteens. Enggartiasto Lukita, Indonesia’s Trade Minister, told Asia Times on October 13, during a trade expo in Banten, on Java island, that: “We [have] complained about the export to China for mangosteens, bananas and bird nests.” China, which surpassed the ... Read More »

US imposes preliminary anti-dumping duties on Argentine, Indonesian biodiesel

  JAKARTA: The US Department of Commerce has imposed preliminary anti-dumping duties on biodiesel from Argentina and Indonesia ranging from around 50 to 70 per cent. The initial finding from the commerce department said exporters from Argentina had sold biodiesel at dumping margins of 54.36 to 70.5 per cent, while exporters from Indonesia sold it at a margin of 50.71 ... Read More »

Indonesia revises up Aug exports, imports

JAKARTA: Indonesia’s statistics bureau on Monday said it had revised the value of August’s exports and imports, but maintained the trade surplus figure. August exports were revised up to $15.23 billion from $15.21 billion, while imports were revised to $13.51 billion from $13.49 billion. The bureau maintained Indonesia’s trade surplus in August at $1.72 billion. The bureau on Monday gave ... Read More »

Indonesian police seized record 3.7 tons of controlled substances last year

  JAKARTA: Indonesian narcotics police seized 3.7 tons of controlled substances last year (2016), as ramped up raids led to hundreds of shipments being intercepted in the country’s war on drugs. About 1,230 suspects, including 21 foreigners, were nabbed in more than 800 operations by the National Narcotics Agency (BNN). The total drug seizure and arrests were significantly higher than ... Read More »

Difficult to achieve Indonesia’s tax-to-GDP ratio target in 2017

  JAKARTA: Her view is based on: (1) the country’s limited tax revenue collection so far this year, (2) Indonesia’s structural bad track record in terms of achieving tax revenue and ratio targets, and (3) the fact that we are approaching the year-end, hence there remains limited time to boost tax revenue. Indonesia’s tax revenue realization reached IDR 770 trillion ... Read More »

Indonesia looks to consolidate procurement rules

  JAKARTA: The Indonesian Ministry of Defence (MoD) said on 9 October that it will review its defence procurement procedures with a view to introducing a consolidated policy. The aim is to simplify processes and enhance transparency, it said. The MoD said the review is necessary in light of “different perceptions” about defence acquisition processes in the country, which has ... Read More »

Indonesia’s inflation at six-month low

JAKARTA: Indonesia’s consumer prices increased 3.72% year over year in September and 0.13% on a monthly basis, per the Central Statistics Agency. The country’s core inflation, which excludes volatile items such as food prices, increased 3% year over year in September compared with 2.98% in August. The inflation is well within the central bank’s target range of 3-5%. Moreover, it ... Read More »

Bank Indonesia suspends unlicensed e-wallets

JAKARTA: Leading Indonesian e-commerce startups have had to partially suspend e-wallet operations until they are granted a license by the central bank, as the growing popularity of the electronic services attracts greater regulatory scrutiny. These include Tokopedia, which recently announced it will raise $1.1 billion from Alibaba Group Holding and other investors; Shopee, a unit of Singapore-based Sea, which recently ... Read More »

Indonesia’s Sept annual inflation rate eases, hits 6-mth low

JAKARTA: Indonesia’s annual inflation rate eased for a fourth month in September to its lowest since March on the back of a continued decline in food prices, the statistics bureau said on Monday. Annual headline consumer prices rose 3.72 percent in September, compared with a growth of 3.82 percent in August. Analysts polled by Reuters had expected 3.67 percent. On ... Read More »