{"id":9199,"date":"2023-04-03T11:18:15","date_gmt":"2023-04-03T09:18:15","guid":{"rendered":"https:\/\/investmentbell.com\/?p=9199"},"modified":"2023-04-03T11:18:20","modified_gmt":"2023-04-03T09:18:20","slug":"indonesia-lowers-vat-on-electric-vehicles-to-1","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/id\/news\/commodities-news\/indonesia-lowers-vat-on-electric-vehicles-to-1\/","title":{"rendered":"Indonesia menurunkan PPN atas kendaraan listrik menjadi 1%"},"content":{"rendered":"<p>JAKARTA (Reuters) &#8211; Indonesia has lowered its value-add tax on battery-based electric vehicle sales to 1% from 11% to encourage the adoption of EVs, a government ministry said on Monday, amid efforts to attract investment into domestic production,<\/p>\n\n\n\n<p>The incentive came into effect this month and will remain in place until the end of the year, the Coordinating Ministry of Maritime and Investment Affairs said in a statement.<\/p>\n\n\n\n<p>A VAT cut was also applied to some electric buses, it said.<\/p>\n\n\n\n<p>Indonesia is stepping up efforts to lure investment into domestic production of EV batteries and EVs to utilise its rich reserves of nickel, which is processed for battery production.<\/p>\n\n\n\n<p>Officials have been trying to attract investment from electric car makers such as Tesla (NASDAQ:TSLA) and China&#8217;s BYD Auto.<\/p>\n\n\n\n<p>South Korea&#8217;s LG and Hyundai have already started constructing plants to assemble batteries and EVs in the Southeast Asian country.<\/p>\n\n\n\n<p>Indonesia said last month it would allocate 7 trillion rupiah ($466.70 million) in state funds to subsidise electric motorcycle sales through 2024.<\/p>\n\n\n\n<p>($1 = 14,999.0000 rupiah)<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost9199\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost9199').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>JAKARTA (Reuters) &#8211; Indonesia has lowered its value-add tax on battery-based electric vehicle sales to 1% from 11% to encourage the adoption of EVs, a government ministry said on Monday, amid efforts to attract investment into domestic production, The incentive came into effect this month and will remain in place until the end of the [&hellip;]<\/p>","protected":false},"author":13,"featured_media":9200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":{"0":"post-9199","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities-news"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/posts\/9199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/comments?post=9199"}],"version-history":[{"count":0,"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/posts\/9199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/media\/9200"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/media?parent=9199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/categories?post=9199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/id\/wp-json\/wp\/v2\/tags?post=9199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}