Online Payment Platforms Help SMEs Go Digital With the rapidly increasing adoption of a cashless system, McKinsey’s management consulting firm said that online payment platforms would help small and medium enterprises (SMEs) go digital. In the 2020 McKinsey Global Payments Report, the cash usage across the world had declined by as much as 45 percent…
Fintech Player Extends Loans to Help Retail Supply Chain AwanTunai, a financial technology (fintech) company in Indonesia, helps the retail supply chain survive the coronavirus pandemic as various sectors shift to digital. The company is lending to startups and micro, small and medium enterprises to finance their digital transformation. It has disbursed RP 407 billion…
Indonesia Boosting Financial Literacy to Reduce Unbanked Population According to a study, Indonesia is battling with low financial literacy, which leads to a significant portion of its population being unbanked or not financially included. A survey conducted by the Financial Services Authority in 2019 revealed that the financial inclusion rate in Indonesia was only 76.1…
Indonesia’s Omnibus Law Makes Changes to Labor-Related Sectors The government and the House of Representatives have already concluded the discussion over the Omnibus Law on Jobs Creation, which is seen to trigger changes to labor-related sectors. Thus, the Omnibus Law in Job Creation No. 11 of 2020 has been issued on 2 November 2020 by…
Indonesian Government Revises Laws to Boost Investment and Jobs The Indonesian House of Representatives passed the landmark Omnibus Law on Job Creation on October 5 to improve the business climate. The government has amended 79 laws to boost investments and jobs, making Indonesia more competitive and attractive as an investment destination. According to the World…
In Pandemic, Indonesia Introduces Tax Policy on Digital Goods and Services With the public shifting to the online world, the Indonesian government found it necessary to implement tax policy on digital goods and services. The taxation of the so-called digital economy has been among the top agendas of many countries. Governments are doing so to…
IMF Calls for Broad-based Tax Reform to Support the Indonesian Economy The International Monetary Fund (IMF) is encouraging the Indonesian government to implement a broad-based tax reform as a means of improving its revenue as the economy slows down due to the coronavirus pandemic. In an interview with The Jakarta Post, IMF mission chief for…
Making Accounting in Restaurant Business a Priority for Restaurateurs Accounting is about dealing with numerous numbers and what they are telling you. It involves, collection, classification, and analysis, among others, of every financial data in your business. Accounting helps your business know its financial position, so you have an idea of where to go and…
Government Releases Special Tourism Grants to Aid Ailing Sector The Indonesian government has made sure to take care of the tourism industries affected by the pandemic. In October 2020, it released Rp 3.3-trillion worth of special tourism grants to aid the regional governments and businesses rejuvenating the tourism industry. Tourism and Creative Economy Minister Wishnutama…
Indonesia is Encouraged to Have Fair Regulations for Foreign Investors Senior legislator Rachmat Gobel calls for fair regulations for foreign investors to attract more business ventures in Indonesia. By having such, the country can also see improvement in the quality of the investments being approved. Gobel expressed his sentiments toward foreign investors’ regulations after Japanese…
