Indonesia Nickel Industry Policy Adjustment: Smelters Will No Longer Receive Preferential Treatment
The government is reviewing incentives given to companies with nickel processing and refining facilities. With the increasing number of nickel smelters, the Deputy Minister of Energy and Mineral Resources stated that nickel smelting companies such as those producing nickel pig iron and ferronickel are no longer considered advanced industries, whereas previous incentives were largely based on the designation of advanced industry. The incentives currently under review mainly involve tax exemptions or tax holidays for rotary kiln electric furnace nickel smelters for a certain period. The Investment and Downstream Ministry has selected some projects that are no longer considered advanced industries in Indonesia, and has adjusted the classification of certain industries in implementation; other incentive mechanisms will be studied later.
Chinese Auto Brands Rise in Indonesia Market
Sales Ranking of Chinese Automotive Brands in Indonesia
Prabowo to Crack Down on Illegal Smuggling to Protect State Revenue
Indonesian Nickel Resource Companies' Performance Continues to Improve
Indonesia Raises Retirement Age to 59
The Indonesian government has started raising the retirement age for Indonesian workers to 59 this year. According to government regulations, starting from 57 years old in 2019, the retirement age will increase by one year every three years until it eventually reaches 65. Workers who have reached retirement age and have contributed for at least 15 years can receive a monthly pension of IDR 300,000 to IDR 3,600,000. The annual pension amount will be affected by the inflation rate. Workers can apply for their pension within a maximum of three years after reaching retirement age.
Scope and Calculation Method of Indonesia's 12% VAT
The following is the calculation method for luxury house prices after the VAT increase: The PPnBM rates vary, with a minimum of 10% and a maximum of 200%. PPnBM belonging to the 20% tax rate group includes luxury residences such as non-stratified title houses and townhouses with a selling price of IDR 20 billion or more, as well as apartments, condominiums, and townhouses with a selling price of IDR 10 billion or more. If a company or developer sells a luxury house for IDR 20 billion, the house is a taxable item (BKP) subject to VAT and PPnBM of 20%. When the VAT rate is still 11%
BYD M6 Becomes the Best-Selling Electric Vehicle at Jakarta Auto Week
During the 10-day GJAW 2024 exhibition, BYD received 1,400 electric vehicle orders, with Indonesia's first electric MPV M6 becoming the sales主力. It also won the "Most Popular BEV MPEV Car" award. BYD's booth attracted over 13,000 visitors and conducted 1,272 test drives. The president expressed gratitude for the positive public response, stating that it reflects Indonesian consumers' growing trust in its innovation and technology. In addition to strong sales, BYD collaborated with PLN to launch a new concept for home charging services, demonstrating its commitment to building a sustainable electric vehicle ecosystem. In November 2024, its wholesale sales exceeded 2,800 units, setting a record high, with total sales surpassing 13,000 units in the five months since July, solidifying its position in Indonesia's electric vehicle industry. Looking ahead to 2025, BYD will introduce new innovations and fulfill its sustainable development commitments based on social needs.
China Welcomes Indonesia as Full Member of BRICS
A spokesperson for the Ministry of Foreign Affairs stated that China welcomes and warmly congratulates Indonesia on becoming a full member of BRICS. Indonesia, as a major developing country and an important force in the Global South, highly identifies with the BRICS spirit and actively participates in BRICS+ cooperation. Indonesia's official entry into BRICS aligns with the common interests of BRICS countries and the Global South, and it is believed that this will make positive contributions to the development of the BRICS mechanism. The spokesperson said that BRICS is an important platform for promoting solidarity and cooperation among the Global South and a vital force in reforming the global governance system, always committed to upholding multilateralism, defending fairness and justice, and promoting common development. The BRICS family welcomes
Indonesia's Trade Ministry Continues to Focus on Cracking Down on Illegal Imports This Year
Indonesia's Minister of Trade confirmed that the task force for illegal imports will have its term extended to 2025. The term of the Illegal Import Task Force ended in December 2024, and the Minister of Trade issued a regulation establishing the task force to supervise specific goods subject to import trade regulations. He is not yet certain whether the extension will last until the end of 2025 or another period, and plans to conduct another evaluation to determine the specific duration. According to data from the Ministry of Trade, the task force has achieved significant results, cracking down on illegal imports worth IDR 212.88 billion, which is cumulative data from July to October 2024. The target goods supervised by the task force include textiles, clothing, accessories, ceramics, electronics, and footwear.
Wuling Registers New Electric Vehicle Model in Indonesia
Wuling Motors will expand its electric vehicle lineup for the Indonesian market, having filed patent drawings for a new model. According to official documents, the new car is an SUV, with the application accepted on October 17, 2024, and it is likely the Baojun Yunhai SUV. The exterior features innovative design with triangular headlights integrating DRL, reminiscent of Porsche, along with a trapezoidal grille, sloped hood, and traditional door handles. The roofline is slightly curved, and the rear has a spoiler and cross-shaped taillights. In terms of technical specifications, the PHEV model is equipped with a 1.5-liter gasoline engine and a 150 kW electric motor, with battery options of 9.5 kWh (range 60 km)
Indonesian Telecom Scammers Impersonate Tax Office Staff to Defraud
Recently, a new type of telecom fraud from Indonesia has emerged quietly, with many people nearly falling victim. Everyone must stay vigilant! The scammers are extremely cunning. They pose as tax office staff and call you, accurately stating some of your personal information to lower your guard. Then, they tell you that the contact details in the tax system need to be changed, and emphatically claim that it concerns your vital interests, warning that missing the change could cause many problems. Here’s the key! They will ask you to log in to a so-called “official system” using an Android phone. Once you log in as instructed, you are actually opening the door for scammers to invade your phone.