17
July

Indonesia's tax receipts in 2019 will probably fall Rp140 trillion short of its target in the state budget due to sluggish tax payments resulting from persistent pressure on global commodity prices, the Finance Ministry predicted.  

To make things worse, the import growth slowed down, the state expedited refunds on tax overpayment, and the rupiah's exchange rate was not as weak as expected, Director General of Taxation Robert Pakapahan said following a meeting with the budgetary committee at the parliament building in Jakarta on Tuesday.

The shortfall was based on the preliminary research which projected tax receipts until the end of this year to reach Rp1,437.53 trillion or 91 percent of the target set in the 2019 state budget at Rp1,577.55 trillion.

If the forecast was true, the shortfall of tax receipts in 2019 would be larger than it was in 2018 when it was recorded at Rp108.1 trillion, he said.

State revenues from income tax (PPh) will reach Rp818.56 trillion or 91.5 percent of the target, value added tax (PPN) will be Rp592.79 trillion or 90.4 percent, land and building tax at will touch Rp18.86 trillion or 98.7 percent, and other taxes will total Rp7.31 trillion or 85 percent of the target, the Finance Ministry has projected.

The global economic downturn had an impact on the country's tax receipts this year, causing a number of macro assumptions to fall short of their target, Pakapahan said.

Among the macro assumptions are the rupiah's exchange rate and the average Indonesian Crude Price (ICP).

The rupiah's exchange rate is projected to reach Rp14, 250 per US dollar, lower than the assumed Rp15, 000 per US dollar. Meanwhile, the ICP is expected to average US$63 per barrel, lower than the assumed US$70 per barrel. (ANTARA)

17
July

The Creative Economy Agency (Bekraf) will collaborate with regional leaders for cooperation with regard to intellectual property (IP), Deputy Marketing Head of (Bekraf) Joshua Simandjuntak has said.

"We want to bring together regional leaders with IP creators to create city icons," he said in Jakarta Tuesday.

The move was modeled after the Japanese city government of Komamoto, which owns Kumamon, the character of a black bear with red cheeks who became the city mascot on the island of Kyushu.

The characters which are icons of a city can provide an impetus to the regional income from the sale of shirts or other products that use the icon, according to him.

Creators will get royalties, while local governments can sell the city's iconic licenses.

"For example, traditional beverage entrepreneurs want each packaging to have an iconic character that belongs to the city, so they can buy character permits. The regional government must have a BLU (the General Business Service Agency) for this sale," he said.

In addition to working with local governments, he said he had compiled a cross-sectoral program, one of which was fashion. Streetware trends, which use t-shirts with character designs, are also expected to be a part of the local IP creators.

"There are so many international products that want to partner with local IP because they think it is more relevant," he said.

Apart from that, Bekraf is planning to make an intellectual property title, the Indonesia International IP Show, Joshua said.

"It is still in the coordination stage between all parties," he said.

The event is expected to begin at the end of this year on a national scale first to find out the number of creators of intellectual property in Indonesia.

Later, the event can be expected to be a forum of  intellectual property owners and  license buyers not only from Indonesia but also from Southeast Asia.

"Not just domestically, but it can become the market hub at least in Asia and the Asia Pacific region, which we see as a potential market because there is no market hub in Southeast Asia," he said.

The income generated from global wealth reached US$271.6 billion. While Southeast Asia reached $ 10.4 billion or around three to four percent of the global income, according to data from the International IP Association, Lima.(ANTARA)

17
July

The meeting between Joko Widodo and Prabowo Subianto constituted a reconciliation that has the potential to stimulate investment in the country, Pingkan Audrine Kosijungan, a Center for Indonesian Policy Studies (CIPS) researcher, has stated. "The reconciliation of the two central political figures in the 2019 presidential election is expected to restore investor confidence which had declined after a series of events that occurred in recent months," Pingkan said Tuesday.

Although there was a group of parties who regretted Prabowo's decision to meet with Jokowi, quite a few also responded positively, according to him.

One of the positive sentiments was expressed by the country's businessmen who welcomed the meeting because it provided post-election stability, he remarked.

In addition, the sentiment was witnessed on the floor of the stock exchange, where the Composite Stock Price Index (IHSG) had increased, accompanied by a strengthening of the rupiah exchange rate against the US dollar, he said.

However, there is no guarantee that this stability will continue, because the steps the elected president takes in terms of the bureaucracy and the cabinet formation could play an important role in the future, he stressed.

"The issue of the reshuffle and cabinet structure is also important to note because the president's choice will greatly influence the market response. The policy package is also important to bring Indonesia out of the trade balance deficit and infrastructure financing debt that keep on increasing," he said.

Earlier, Finance Minister Sri Mulyani assessed that the meeting between Gerindra Party Chairperson Prabowo Subianto and president-elect Joko Widodo was a manifestation of Indonesia's unity.

"The leaders who have competed have also taken steps to show the Indonesian people that we are united even though they have competed," Sri said after attending the STAN, Tangerang State Polytechnic event on Sunday, July 14.

The reconciliation by Jokowi and Prabowo could be a lesson for the public about the statehood of leaders, Sri said.

The leaders of the country, have a responsibility towards the public to assure them that the 2019 presidential election process has gone off well, he said.

"We are relieved and very happy that this is what has happened. The meeting is symbolic of the whole political process that has been conducted well and produced a result that we all respect," he said. (ANTARA)


16
July

President Joko Widodo (Jokowi) urged teenage officers, who graduated from the Police and Military Academy in 2019, to follow and stay abreast of swift scientific and technological developments, particularly pertaining to the military and police.

"You must follow and pursue the era of development," President Jokowi noted at the inauguration of the 2019 young officers at the yard of Merdeka Palace in Jakarta on Tuesday.

The head of state pointed to wide-ranging developments in strategy, tactics, doctrine, and the weapons system in the military world.

Police officers are also required to adopt more sophisticated means and approaches in combating digital crimes, enforcing the law, maintaining security and order, ensuring protection, and offering service to the people.

"Everything must be handled with a swift response. All must be faced with a smart response," he emphasized.

The president stated that the 4.0 Industrial Revolution has given birth to several new-fangled technologies that are transforming the way of living of members of the international community, while social media has changed the way people communicate and interact.

"There are good effects, but there are also many risks. Advanced robotics and artificial intelligence have made it easier for us in many ways, including in the military and police. However, simultaneously, it also gives rise to new types of crimes that are our shared challenges," he pointed out.

The former Jakarta governor remarked that today's world is marked by widespread disruption, changes, and risks.

"The world is complex and full of surprises that are often far and beyond our calculations. Once again, speed, complexity, and unpredictability are new features of the international world that are changing today," he stated.

He reminded the young officers of the challenges and problems that have evolved significantly, thereby necessitating a change in tactics and strategies in handling them. We can no longer continue using the old ways and models.

"We are left with no other choice but to be fast, flexible, and smart. We must further master science and technology," he stated.

The president emphasized that all must be dealt with in a smart, precise, and professional manner, with mastery gained in science and technology.

"Hence, you are an important part of Indonesia's great quality human resources to build a sovereign and dignified Indonesia," Jokowi affirmed.  (ANTARA)

Page 1 of 513