Indonesia :: One and Only

Asia Sentinel
Our Correspondent
28 July 2008

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.

The changes, finalized recently by Indonesia’s House of Representatives, are extremely important to the business community, particularly the foreign one. A September, 2007 study by the International Finance Corporation, a World Bank unit, found that despite the fact that Indonesia is reforming its government structures faster than any other Asian country except China, its performance still ranks below every country in the region except the Philippines. (more…)

Source: Reuters

Jakarta, July 25 – Indonesia’s largest listed plantation company, PT Astra Agro Lestari Tbk, said on Friday its first-half net profit rose 134 percent from a year ago, supported by strong palm oil sales.

The firm, controlled by Indonesia’s top automotive distributor, PT Astra International Tbk, had previously reported a 20 percent increase in its crude palm oil (CPO) sales volume in the first half, paired with 58.9 percent rise in the average CPO price. (more…)

The Jakarta Post – March 24, 2008 A giant U.S.-based paper and pulp company, International Paper, plans to invest more than US$4 billion in a pulp factory and industrial forest.

Director general for forest product management at the Forestry Ministry, Hadi S. Pasaribu, said the pulp factory would have the capacity to produce 1.5 million tons of pulp per year. “They are planning to establish a 500,000-hectare plantation forest to support the pulp factory,” he said, as quoted by Antara. (more…)