Business News

Economic Forum in Davos; BKPM Eyes Investment from 8 Global Firms

The Head of the Indonesia Investment Coordinating Board (BKPM) Bahlil Lahadalia is scheduled to have a working visit to the World Economic Forum (WEF) in Davos, Switzerland, on January 20-23. Apart from being a speaker at the Indonesia Pavilion and meeting with WEF Founder Klaus Schwab, Bahlil plans to meet…

The Enactment of Ministry of Finance’s Decree Number 199 year 2019 on 30th January 2019

As per 30th January 2020, the government will enact regulation of the Minister of Finance (ministerial decree) Number 199 year 2019 regarding Customs, Excise and Taxes on the Shipment Import:1. The government lowered the limit on the value of exemption from import duties on shipments from US $75 to US…

Foreign workers, remuneration, working hours to be addressed in omnibus law

The government is looking to address issues related to foreign workers, severance pay, minimum wage and working hours deemed as unfavorable for investors in the omnibus bill on job creation, high-ranking officials have said.President Joko “Jokowi” Widodo instructed ministers on Monday to conclude drafting the omnibus bill on job creation…

Indonesia to lower threshold for import taxes on e-commerce goods

The government will lower the threshold at which it begins to impose import taxes on consumer goods sold via e-commerce to just $3 (about Rp 42,000), from $75, to control purchases of cheap foreign products and protect small domestic firms, officials said on Monday.Overseas shipments from e-commerce purchases jumped to…
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