Electric vehicles (EVs), or Electric Motor Vehicles (EMVs), are part of Indonesia’s mitigation actions. To meet the emission reduction targets under Indonesia’s Nationally Defined Contribution (NDC), electric two-wheelers (E2Ws) are expected to reach 1.8 million by 2025 and 13 million by 2030. Meanwhile, electric four-wheelers (E4Ws) are targeted to reach 0.4 million by 2025 and … Read more
The transportation sector is currently transitioning from fossil fuels to more environmentally friendly electric energy, as this sector is one of the largest contributors to greenhouse gas emissions. The use of electric vehicles is rapidly growing, with the largest market in China, followed by Europe and the United States. The development of electric vehicles heavily … Read more
MINISTRY OF FINANCE REGULATIONS NO. 7 YEAR 2024 (PMK 7/2024) CONCERNING VALUE ADDED TAX ON SUPPLIES OF LANDED HOUSES AND FLAT UNITS BORNE BY THE GOVERNMENT FOR THE 2024 FISCAL YEAR To increase Indonesia’s economic growth and to stimulate public interest to spend in housing sector, the government show the support to provide fiscal incentives … Read more
The accounting treatment for borrowing costs generally requires direct recognition of borrowing costs, in the form of interest expense, in the income statement. However accounting standards allow interest expense on loans to be capitalized, meaning that it is directly attributable to the acquisition, construction or production of qualifying assets. Scope of accounting standards are applied … Read more
The independent auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. Auditor independence refers to the impartiality and objectivity of an auditor in conducting an audit, free from conflicts of interest and bias. It … Read more
The battery-based electric motor vehicle industry (Battery Electric Vehicles – BEVs) in Indonesia is experiencing rapid growth alongside increasing awareness of environmental protection. Various regulations related to the battery-based electric motor vehicle industry demonstrate the Indonesian government’s support for new and renewable energy. Not only focusing on practical energy development, but also legal aspects ranging … Read more
Amid growing awareness of the need for sustainability, the circular economy has emerged as a pivotal approach to building eco-friendly economic systems. Unlike the traditional linear economic model—where goods are produced, used, and discarded—the circular economy offers innovative solutions by maximizing resource use and minimizing waste. It aims to eliminate waste entirely and promotes the … Read more
The Indonesian Tax Authority (ITA) has enacted a new regulation, Minister of Finance Regulation Number 8 of 2024 (PMK 8/2024), concerning Value Added Tax on the Delivery of Certain Four-Wheeled Battery Electric Vehicles and Certain Battery Electric Buses Covered by the Government. Additionally, ITA issued Minister of Finance Regulation Number 9 of 2024 (PMK 9/2024) … Read more
The Ministry of Finance of the Republic of Indonesia (Kementerian Keuangan Republik Indonesia: Kemenkeu RI) acts as the regulator for the Financial Profession in Indonesia. To oversee the financial profession, Kemenkeu RI established the Financial Profession Development Center (Pusat Pembinaan Profesi Keuangan: P2PK) accountable to the Kemenkeu RI‘s Secretary-General. P2PK’s responsibilities include coordinating and implementing … Read more
Business combinations often become corporate actions carried out by companies in maintaining business continuity. Business combinations that can be carried out are in the form of mergers, acquisitions, or consolidations. Merger means maintaining the existence of one entity and dissolving other entities. Acquisition means taking ownership of an entity and maintaining the operations of both … Read more
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