On June 15, 2011 the Indonesian Petroleum Association submitted to the Indonesian Supreme Court a petition for judicial review against Government Regulation Number 79 Year 2010 concerning Recoverable Operational Costs and Income Tax Treatment for the Upstream Oil and Gas Industry, because certain provisions of the regulation have seriously taken a...
There are plenty of idyllic tourist spots in the Indonesian archipelago, some of them topping the wish lists of tourists worldwide. Less known but finally in bounds is a fascinating new option: Aceh. The semi-autonomous region at the westernmost point in the country is emerging from decades of isolation, and both locals and visitors are waking...
ETIQUETTE: A handshake is usually the first introduction in a business setting and is used as a greeting and farewell. It is recommended to address men as Pak (equivalent to “Mr.”) and women as Ibu (equivalent to “Mrs.”). Visitors should try to use the right hand when passing money and other objects,...
COUNTRY PROFILE Island life: A rich and colourful archipelago POLITICS Rising to the challenge: Growth and reform have continued despite difficult conditions Interview: President Susilo Bambang Yudhoyono At the helm: Chairing ASEAN presents an opportunity to increase regional influence Interview: Abdullah Gül, President of Turkey...
The Indonesian tax system is mainly based on three tax laws – the General Tax Provisions and Procedures Law, the Income Tax Law, and the Value-Added Tax (VAT) and Luxury Sales Tax (LST) Law. The tax reforms, which started in 2008, covering amendments of the above laws, were completed in 2010. Subsequent to the commencement of the new laws, the...
Indonesia, with an average GDP growth of around 5-6% per annum during the past three years, has emerged as one of world’s potential economic powerhouses. As a member of the G20, Indonesia is already in the process of transforming into one of the developed nations. This fourth-most-populous country in the world has most of the requirements to reach a...
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