Tax authorities emphasize need to tighten bank account restrictions
The Director General of Taxation (Dirjen) at the Ministry of Finance (Kemenkeu) has given his opinion on the new rules that prohibit the opening of new accounts for individuals or entities that are not willing to provide information to identify their financial status. These rules, such as the 2024 Finance Minister's Article...
Indonesia plans four new special economic zones
The establishment of Special Economic Zones (SEZs) is an important initiative for Indonesia's economic development. The Acting Secretary General of the Indonesian Special Economic Zones Commission (SEZC) recently stated that Indonesia will soon add four more SEZs with a total investment of Rp 161 trillion. The four new SEZs are located...
China Becomes Major Source of Indonesia's Garment Imports
The Central Bureau of Statistics (BPS) noted that apparel imports increased in July 2024, especially from China. Monthly imports of knitted garments and accessories (HS 61) increased by 55.46%.Meanwhile, imports of non-knitted garments and accessories (HS 6...
Foreign companies investing in Xindu are not required to pay compensation for foreign workers.
President Joko has allowed businessmen to invest in the new capital (IKN) to recruit foreign workers (TKA), a provision that is regulated by Government Regulation No. 29 of 2024, which deals with licensing attempts, ease of doing business, and ease of investing in businesses within IKN...
Indonesia cracks down on illegal imports, seizes Rp 100 billion in goods in three operations
On August 19, Indonesia's Trade Minister told the media that the Special Task Force for the Rectification of Illegal Imports had for the third time seized illegal imports worth a total of Rp 20.2 billion, or about Rp 10 million. The seized illegal goods include electric drills, angle grinders...
2025 Indonesia (APBN) State Budget Planning
Article Data Source: ANTARA-Antara News Agency, Joko's 2025 State Budget Speech Translated by Thousand Islands Enterprise Indonesia's President Joko Widodo presented the draft of Indonesia's 2025 State Budget and Expenditure on Friday, August 16,...
Indonesian real estate tycoon optimistic after witnessing Xindu's development
Sugianto Kusuma, owner of real estate giant Agung Sedayu Group and developer of the PIK area, is optimistic about the success of Indonesia's new capital (IKN). He witnessed the development of IKN when he attended the 79th Independence Day ceremony...
China remains main source of Indonesia's apparel imports
The Central Bureau of Statistics (BPS) acknowledged that the value of imports of apparel under HS codes 61 and 62 increased by 55.461 TP3T and 29.611 TP3T per month (month to month/mtm).In terms of the country of origin of the imports, HS 61 goods consisting of knitted apparel and accessories from China...
Indonesia's best-selling electric cars change
The Wuling Air EV electric car caused a stir when it was first launched in 2022 as it was the first electric car produced in Indonesia, priced at around Rp 240 million. Meanwhile, then rival Hyundai was selling the car for 8...
Chinese EV firms plan to build charging facilities in Indonesia
BYD (BYD), an automobile company from China, has admitted that it has started to review its long-term roadmap for business development in Indonesia. BYD Auto Indonesia's head of marketing and communications said this development includes the provision of charging stations in public...
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