Originally Posted By: KuKuKaChu as a general policy, better not to believe anything in indonesia until you see it. and even then, remain skeptical. Things will be better once they ratify that bill concerning stopping all of the corruption...........

"The new rates, effective next year, are pending approval by a plenary session of the nation's parliament." Maybe I peaked to soon thinking it was a done deal ... anybody have any information on when this is scheduled?

State-owned pawnshop Perum Pegadaian said it is optimistic to chalk up around Rp650 billion ($70 million) in net profit this year, Asia Pulse reported. Pawnshop service is more popular and higher in demand at present under difficult economic condition, its president Chandra Purnama said, without giving figures for last year. The prevailing economic conditions open greater opportunity for Perum Pegadaian to cope with the financial difficulties faced by the people, Purnama said.

The government said it has set aside 1.63 million hectares of land in southern Papua for food crops and plants to produce feedstock for biofuel industry, Asia Pulse reported. The government will give priority to local investors to develop the plantations and invite foreign investors to invest in the manufacturing sector, Agriculture Minister Anton Apriyantono said.

The government plans to cut the maximum taxation rates for personal and corporate income and reduce charges on dividend revenue, the chief tax official said, quoted by Dow Jones. The government and a parliamentary commission last week approved a cut in the maximum tax rate on personal income to 30% from the current 35%, and set a single rate of 28% for most companies next year, falling to 25% in 2010, said Darmin Nasution, Director General of Taxation.

The investment of 13 Dutch companies in the province of Batam has reached $15.171 million, Asia Pulse reported. Their investment is in electronic components, information technology and telecommunications, heavy equipment maintenance, ship instruments and equipment, and the metal industry, Batam Authority spokesman Dwi Djoko Wiwoho said.

[size:14pt]Indonesia Reforms its Tax Structure Jakarta hopes to gain revenue and investment by cutting tax brackets, increasing collections If all goes well, at the first of 2009 Indonesia will engineer a radical redesign of its tax structure, instituting election-year tax sweeteners, slashing income taxes and eliminating the country’s hated Rp1 million (US$108.71) departure tax for local residents and registered foreign workers.

JAKARTA: HSBC Indonesia has launched an import credit facility for mostly small and medium enterprises. Senior vice president for trade and supply chain Vincent C. Sugianto said Express DC was available with a cash collateral of between 25 percent to 35 percent, and a maximum credit line of US$250,000.