Indonesia to delay import duties, corporate income tax payments to cope with COVID-19
Indonesia is set to delay import duties and corporate income tax payments for six months while also expediting the repayment of overpaid taxes in new fiscal measures to shield the economy as the COVID-19 outbreak pressures businesses.
A number of taxpayers file their returns with the Jakarta Tax Office in Tanah Abang, Central Jakarta. (Source: Jakarta Post)
Hanoi (VNA) - Indonesia is set to delay import duties and corporateincome tax payments for six months while also expediting the repayment ofoverpaid taxes in new fiscal measures to shield the economy as the COVID-19outbreak pressures businesses.
Coordinating Economic Minister Airlangga Hartarto said on March 11 the fiscalstimulus aims to stimulate manufacturing activity, adding that the government isfinalising the supporting regulations to enact such policy, according to theJakarta Post newspaper.
The stimulus package is expected to be implemented in April after preparing thelegal background.
Manufacturing industries have complained of raw materials supply disruptionthat has crippled factories across Indonesia. Twenty to 50 percent of rawmaterials for the country’s industries are sourced from China, Indonesia’sbiggest trade partner.
According to Industry Minister Agus Gumiwang Kartasasmita, the stimulus forimport taxes aims to fulfil industry needs of raw materials.
Meanwhile, Finance Minister Sri Mulyani Indrawati said the move to providethese incentives takes aim at relieving industries’ burden caused by the disease.
The government is also set to temporarily exempt manufacturing workers fromincome tax payment to relieve workers’ burden, she said.
The minister has warned economic growth could weaken to 4.7 percent this yearfrom 5.02 percent in 2019 amid increasing business disruptions caused by the outbreak./.
Indonesia and the Netherlands have signed a number of cooperation agreements worth 1 billion USD in total during the visit of Dutch King Willem-Alexander and Queen Maxima to the Southeast Asian country.
Indonesian Deputy Foreign Minister Mahendra Siregar on March 11 stressed that Indonesia could not accept the European Union (EU)’s energy policy, describing it as discriminatory.
Multinational Scatec Solar plans to invest 70 million USD to build a 70MW solar photovoltaic plant in Labuan Bajo, a famous tourist destination in Indonesia’s East Nusa Tenggara.
Indonesia’s Jakarta Governor Anies Baswedan has said that the city administration would limit public interaction as a precautionary measure to protect local residents from the COVID-19 outbreak.
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
A number of taxpayers file their returns with the Jakarta Tax Office in Tanah Abang, Central Jakarta. (Source: Jakarta Post) 
