• Tax Amnesty Program Indonesia is a Success Except for Repatriations

    Tax Amnesty Program Indonesia is a Success Except for Repatriations

    Contrary to our earlier predictions, Indonesia's tax amnesty program has been on a roll in September 2016. The program is designed to boost the government's tax revenue by offering tax evaders attractive rates to come clean and declare their previously undeclared assets (whether stashed at home or abroad in the so-called tax havens). Those who join the program can also repatriate offshore assets into Indonesia, into specifically prepared investment instruments where the funds need to stay for at least three years.

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  • OPEC Agrees to Cut Oil Production, Risk Appetite Rises

    OPEC Agrees to Cut Oil Production, Risk Appetite Rises

    The Organization of Petroleum Exporting Countries (OPEC) made a positive surprise move by agreeing to cut crude oil output for the first time in eight years. Reportedly, OPEC reached a preliminary agreement to limit oil production to 32.5 - 33.0 million barrels of oil per day (bpd), down from the current level of 33.5 million bpd. Although a formal agreement is yet to be reached (expected to happen in November) markets warmly welcomed the news: oil jumped 5 percent, while US energy stocks gained overnight. In Asia assets are extending the gains on Thursday (29/09).

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  • WEF Competitiveness Report 2016-2017: Indonesia falls to 41st

    WEF Competitiveness Report 2016-2017: Indonesia falls to 41st

    Indonesia fell four places in the World Economic Forum (WEF)'s Global Competitiveness Report 2016-2017. In the latest edition, which was released on Wednesday (28/09), Indonesia ranked 41st. The WEF stated that despite the many reforms to the nation's business environment, the performance of Indonesia in the index remains one of contrasts. The WEF's competitiveness report assesses the competitiveness landscape of 138 economies, providing a unique insight into the drivers of these nation's productivity and prosperity.

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  • Volcano Eruption Indonesia: Searching for Missing Tourists

    Volcano Eruption Indonesia: Searching for Missing Tourists

    Reportedly 389 tourists are "missing", believed to be trapped in the area around Mount Rinjani in East Lombok. On Tuesday afternoon (27/09) the 3.7 kilometers high Mount Barujari, located close to Mount Rinjani, erupted. Sutopo Purwo Nugroho, spokesman for Indonesia's National Disaster Mitigation Agency (BNPB), said authorities are doing their best to locate these tourists, find out their condition and evacuate them. Indonesian authorities have already evacuated more than 1,000 people (mostly foreign and domestic tourists) from the area.

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