Longer working lives boosts national economic growth, among other benefits The Indonesian government recently announced that starting January 1, 2025, Indonesian workers in BPJS Ketenagakerjaan’s pension program must wait until they are 59 to receive benefits. The amendment follows Government Regulation (PP) No. 45, which gradually raises the retirement age for program participants. Employers will…
Indonesia Plan to Retain Export Earnings Retention To retain its export earnings, Indonesia plans to require natural resource exporters to work for at least a year instead of the current three months. Under the new earnings policy, foreign exchange reserves will strengthen, the rupiah will stabilise, and economic growth will boost. The regulation is expected…
Indonesia is Launching 6-month Loan Forgiveness Program for MSMEs Good news for micro, small, and medium enterprises (MSMEs): Indonesia launches a six-month loan forgiveness program. Under this initiative, banks can write off bad debts of up to 500 million rupiah ($31,888) until May 2025. MSMEs are encouraged to take advantage of this opportunity, which…
Trade Pact Agreement Between Canada and Indonesia Will Explore Collaboration In Nuclear Energy Canada and Indonesia have signed the Comprehensive Economic Partnership Agreement (CEPA) trade pact, which is a significant step in the trade relationship between the two countries. The deal was signed after 2.5 years of negotiations and will be effective in 2026.…
Indonesia Strengthens Its Partnership and Cooperation with US-ABC In Effort to Advance Tourism The Ministry of Tourism in Indonesia has strengthened its collaboration with the United States-ASEAN Business Council (US-ABC) to promote sustainable and inclusive tourism in the nation. Indonesia is emphasising the importance of this partnership in order to achieve shared goals and mutual…
Dear Valued Customers, Welcome to Our December Newsletter 2024 It’s hard to believe how quickly this year has gone by! Here we are again at the final newsletter of the year and once again, 3E Accounting is closing the year out with achievements we can all be proud of. 3E Accounting Singapore Honoured with…
Indonesia and China Collaboration in Fisheries and Mining Sectors China and Indonesia have signed an agreement to boost collaboration in the fisheries and mining sectors, strengthening the strategic partnership between the two countries. The two countries have signed the agreement with the mutual aim of boosting economic growth, hoping both sectors will foster sustainable…
Indonesia Extends Tax Holidays Until 2025 to Attract Foreign Investors The Indonesian government recently announced a tax extension holiday to encourage foreign investment in Indonesia until 31 December 2025. Announced by the Investment Minister of Indonesia, the decision stood out as many governments worldwide are implementing the Global Minimum Tax (GMT) of 15 per cent.…
Dear Valued Customers, Welcome to Our October Newsletter 2024 From being featured in The Straits Times in Singapore to cross border SEZs, October has been a busy one for the 3E Accounting world, and we’re going to share an overview of what’s been happening in Singapore and our Malaysia, Hong Kong, and Indonesia counterparts.…
Indonesia Targets Economic Growth In 2025 To achieve the desired economic growth in 2025, the Indonesian government is putting multiple key initiatives in motion, which will be supported by a green economy and energy policies. The Indonesian government is aiming for better economic growth in 2025, with rates being between 5.1% and 5.5%. For the…
