DIGIVESTASI - The Indonesia Stock Exchange (IDX) will adjust the Value Added Tax (VAT) rate to 12% on all invoices and tax invoices related to IDX services starting January 2, 2025.

The Director of Trading and Member Regulation of IDX, Irvan Susandy, explained that the VAT rate for all invoices issued on or after January 1, 2025, will increase from 11% to 12%. For invoices issued before that date, the applicable VAT rate remains 11%. Irvan also mentioned that further regulations regarding this adjustment will be outlined through the Minister of Finance Regulation (PMK) to be issued by the Ministry of Finance and the Directorate General of Taxes.

“We encourage payments for invoices issued before January 1, 2025, to be settled promptly, to avoid the impact of the VAT rate change that will be applied in 2025,” Irvan said in a press release received on Monday (30/12/2024).

This tax rate adjustment is in accordance with Law Number 7 of 2021 on the Harmonization of Tax Regulations (HPP), which regulates the VAT rate increase in Article 7, paragraph 1, letter a. In line with the HPP Law, the 12% VAT will be applied to most goods and services, with some exceptions, including basic necessities, healthcare services, education, social services, and other types of services exempt from VAT.

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