Dozens of Banks Opt overtime for Tax Amnesty

The banks that are appointed to collect tax amnesty fund opt to extend their working hours. There around 76 banks perception extend 6 hours overtime up to 21:00 pm on friday. This due to massive taxpayers who hunt for the deadline of lowest ransom for rate offered in september 30th, 2016.

The normal time of operating hours of banks for friday is supposed to be at 15:00pm but it has to extend 6 hours due to large numbers of taxpayers who wish to participate in deadline date.

It is expected to maximize the service for taxpayers. 

The amount of asset reported in the acceptance of tax amnesty till last night friday, september 30th, 2016 total surged in asset is Rp 3,450 trillion out of Rp 4000 trillion targeted. 

Finance minister sri mulyani said the collected ransom fund reaches Rp 97.1 trillion according to official report site of general directorate of taxation yesterday.

There are around 347,033 taxpayers participate in tax amnesty program and only 14,135 who have taxpayers identification number. They are liable to pay ransom rate 2% for first period up to the end of month of september.

Most of participants are induvidual taxpayers. The total of personal affidavit submitted reaching 279,935 with total of ransom fund RP 77,4 trillion meanwhile the corporation or large taxpayers affidavits are 72,064 with ransom fund Rp 9,54 trillion.

Public relations of general directorate of taxation hestu yoga said that banks support the scheme of government and extension of normal working hours is to optimize the surged funds. The directorate of taxation waits for the taxpayers participating in deadline date of lowest ransom rate up to the 21:00 pm. Above that mentioned hours the rate offered will be 3% . This is the reason of flood of taxpayers in friday. There are alot of large taxpayers who join the scheme in last minutes. The administration is the main reason for them to wait for the last minutes furthermore it requires prudent calculation, inventory of large amount of asset, yoga said.

Tax Amnesty: Many large Taxpayers still Conceal Their Asset Abroad

Tax amnesty has ruled for almost 2 months since officially being approved by the house of senate last july 2016. The grand design of tax amnesty as elaborated by coordinating minister of economy darmin nasution is to target large taxpayers both personal and corporations particularly those who park their asset overseas. 

Though tax amnesty hints for incredible swift run to reach initial targets, finance minister sri mulyani conveyed of still too many large taxpayers who have not reported their assets and tax obligations through tax amnesty scheme. This ex deputy of world bank director stressed that it is evident from the amount of asset reported in the acceptance of tax amnesty till last night friday, september 30th, 2016 total surged in asset is Rp 3,450 trillion out of Rp 4000 trillion targeted. 

Sri mulyani said there are still large taxpayers concealing their asset. While the last report of ransom fund collected is Rp 97.1 trillion according to official report site of general directorate of taxation yesterday.

There are around 347,033 taxpayers participate in tax amnesty program and only 14,135 who have taxpayers identification number. They are liable to pay ransom rate 2% for first period up to the end of month of september.

Most of participants are induvidual taxpayers. The total of personal affidavit submitted reaching 279,935 with total of ransom fund RP 77,4 trillion meanwhile the corporation or large taxpayers affidavits are 72,064 with ransom fund Rp 9,54 trillion.

Government is optimistic to reach target and expand thus taxpayer basis for further. Throughout the country tax offices will process taxpayers who want to partake in flagship program of government. It is also claimed that department of taxation has succeeded to trawl more taxpayers though still not performing impressive achievement to withdraw taxpayers from overseas.

In other way, government nevertheless still to extra work to attain their primary target to withdraw assets of indonesian wealthy from abroad. In the beginning the main scheme of tax amnesty is trawl large taxpayers who stash their asset abroad especially in tax heaven countries such as singapore.

So far, there is likely a hint that government has not found effective strategy to withdraw money from singapore for instance. It is reported that total asset of wealthy indonesian in singapore is around Rp 4000 trillion or 50% from singapore banks' asset. Nevertheless, from official report of directorate of taxation, there is still minim surged fund from overseas asset such as singapore. 

Read  Exceptional Crisis of Banks is the Reason Singapore to Tackle Tax Amnesty

Singapore on the other hand suitable with report of reuters has made strategy to hinder indonesian rich there to repatriate their asset. Reuter reported that the local authority has listed the tax amnesty participant as criminal aiming to set a jerk on them not to take the indonesian flagship program.

How to topple strategy on tax amnesty blockade

It is responsibility of government and stakeholders like finance department, foreign minister and money others to work on issue of other countries strategy to fail tax amnesty. We are Waiting for Jokowi to Anticipate The Singapore's Cunning Strategy on Tax Amnesty

There are many credits to this phenomenal president to  work on economy issue in general term. He has track record of capable to dissolve anxiety of people and his criticizers in some issues before such the slowdown of rupiah, the pessimism of amount targeted of tax amnesty and many others. Means to say that there is much trust and a challenge of indonesia especially to prepare the strategy facing singapore who unconciously applying strategy to block the wealthy indonesian joining tax amnesty. This is  quite significant and critical for singapore for it means a lot for their economy survival and possibility of tremendous bank crisis on account of indonesia flagship program (tax amnesty). Even singapore has offered lowered ransom rate of 2% lower from being offered by government. 

Jokowi during his socialization of tax amnesty has blatantly cited the list of wealthy indonesian who stash money abroad and encouraging them to repatriate asset and joining the tax amnesty scheme. 

This is surely a jerk for those who conceal still their assets. It speaks about longetivity of their business in the state and possible legal enforcement by government upon negligence to join the scheme. Moreover in era of free exchange of information in 2018, all businessmen can not conceal any more their asset from the spy of government. 

However, government has to provide the better circumstance of business and finance system than other countries. One of them is regulation on permit of business. Many still complain on regional regulations that are complicated and not following the policy of government to ease the procedure. Read also Regions are Presumably having Barriers to Absorb Tax Amnesty Fund for Real Sector

Finance Minister Plans to raise Cigarette Tax 10.54% in 2017

Finance minister sri mulyani plans to raise cigarette tax 10.54% in average in 2017. The aim is to decrease the the proliferation active smokers that even reach the teens underage. 

Sri mulyani stated the government to raise averagely 10.54%. The largest rate increase is applied to cigarettes tobacco machine that is 13.46% while the lowest is zero percent for hand rolled cigarettes.

The plan of tobacco tax increase rate in 2017 is lowest than the this year which 11.19%. This is considered to be too conservative. The tax increase will not definitely  restrain the rate of consumption in society. The plan of 10.54% tobacco tax raise in certain term is not pro for the health and economy sake of the people. This alludes to the reality how cigarettes become one of largest daily spending for active smokers. 

This is tantamount to say that tax as instrument to control the tobacco consumption is absolutely fail.

In perspective of macro economy, government policy on tobacco is only meant for the sake of economy growth and inflation controlling. This boost the expenditure through cigarette consumption thus in certain way indirectly helping the boost of economy

Bos Indofood tbk and Ustad Mansyur Plus Point among those who join tax amnesty

To day the big boss of PT indofood tbk franky welirang and ustad mansyur joined tax amnesty. They visited the office of general directorate of taxation in gatot subroto street. There is a plus point of both ustad mansyur and indofood boss as conveyed by chief of general directorate of taxation ken dwijugiasteadi that both of them have paid taxes regualary but missing to submit the letter of annual report. Compared to the other participants, both franky welirang and ustad mansyur surfeits since most of the tax amnesty participants are those who negligent to pay taxes.

Ken stated that the involvement of both represents the businessmen and ordinary citizens. This is a good example for all. Meanwhile ustad mansyur right after the report through tax amnesty filled the sermon at mosque of general directorate taxation. He said that paying tax is form of giving alms.

Political Reason Behind Sandiaga Uno's Participation in Tax Amnesty Scheme

Sandiaga uno is one of the top rich young millionaires of the state. Recently the millionaire joins the tax amnesty scheme directly approaching tax center and being covered by media as if to show publicly how this vice governor candidate of gerindra coalition giving good example.

Seeing the initiative to join tax amnesty itself is good example indeed yet how to relate the fact with position of uno and alleged scandal of him before joining the scheme?

Long before being officially appointed by gerindra and coalition to run for governor election in 2017, sandiaga uno was allegedly having his company listed in panama papers. Along with him there are also other names such as chief of BPK and also coordinating minister of maritime luhut pandjaitan. The media tempo.co released the names of indonesian businessmen who are listed in the case.

The exposure of sandiaga uno indeed far from political interpretation if he would not elicit the statement that incites such perspective. After joining tax amnesty to report his asset, sandiaga appealed to all candidates of governor and vice governor of jakarta in incoming election to join the scheme. 

The incumbent who is also top favorite of governor election candidate, basuki cahaya purnama(AHOK) responded on uno's appeal. Ahok cited that there is no need for him to join the scheme because tax amnesty only intended for those who have not been obedient to their tax obligation. Ahok stressed that even long before being a governor, he already submitted his asset report to the authority and paying taxes regularly. Ahok criticized that it is only aptly intended for uno. Moreover there is name of sandiaga uno in panama papers scandal, ahok said. 

Sandiaga uno has used momentum of taxation as example of good precedence unfortunately  he forgot to set aside political tendency due to allegation of panama papers that have not been clearly clarified. This is likely a boomerang for him when he called for other candidates to join tax amnesty scheme.

Koperasi Cipaganti is Declared Bankrupt and Sell its Assets

rimanews.com

Koperasi cipaganti karya guna persada was officially declared bankrupt by the commercial court of central jakarta. 

The chairman of judges wiwik suhartono claimed that the alleged enterprise failed to fulfill the peace agreement of two years after being approved since 2013.

The court claimed that cipaganti as the debtor had not rendered the original documents of to pt pooling aset which was appointed to optimize asset inventory of cipaganti.Pt pooling asset was a committee to value over asset of the company in order to be sold for restore partners' partners.

However cipaganti officials did not render official document of asset to the committee. The chairman of koperasi cipaganti who is already a detainee just made promise to give all legal document ofassets without realization. 

On the other hand, committee has to make inventory of asset and to sell them in order to return the fund of customers and partners. In fact, the debtor precisely had sold the asset of koperasi cipaganti unilaterally. The sale is not for the benefit of customers or return the fund of customers. The assets of koperasi that are sold such as hotel in legian bali, fueling station in koja jakarta, hotel property in pangandaran and a number of land titles. 

The total bills that have to be returned to 8186 cretirs are Rp 3.07 trillion. For further action of fund to be restored, the court appointed edward aritonang, kiagus ahmad bella and tigor l manik as currator teams. 

PT kaltim methanol Indonesia Seeks to Build Plant $900 million tons

PT kaltim methanol indonesia is predicted to explore investment of methanol plant worth $900 million to build plant with capacity 1 billion tons in bintuni bay, west papua. PT kaltim methanol indonesia is expected to build production faci

lity methanol to olefin derivatives such as polyethhylene adn propylene.

Minister of industry encourages the company to join with pt pupuk indonesia and ferrostaal to build urea and methanol becoming olefin. Airlangga hartanto, the industry ministry claims to still wait for the fix of gas industry before concerning  with petrochemical. Industry ministry will push the petrochemical in eastern indonesia like bintuni bay. So far the capacity of methanol is capable to produce 500,000 tons meanwhile the consumption is more than 1.5 million due to high demand by industry of furniture and automotive components. 

Bank Central of Indonesia on Tax Amnesty Realization Pessimism and Impact to Rupiah

Bank central of Indonesia(BI) surely believes that the strength of Rupiah to Rp 12,900 per dollar is influenced by tax amnesty especially the high split of surged in fund in the last week of september.

Rupiah is in range Rp 12,900in its opening and close at Rp 12,990 in the capital market.

The influence of tax amnesty raises the optimism of state's economy. As the official report of general directorate of taxation, total surged in money per september 27th,2016 was Rp 2,476 trillion. 

The amount of asset is dominated by declaration in country Rp 1.695 trillion and treasure abroad Rp 654 trillion. While the total repatriated asset is Rp 127 trillion with total of ransom Rp 53,4 trillion. 

Before in meeting work with the house of senate on wednesday september 7th, 2016 BI was quite pesimistic with the realization of tax amnesty. They assessed the realization in 2016 is only Rp 18 trillion and 2017 is only 3 trillion. Thus in all Rp 21 trillion out of the target Rp 165 trillion by the government. While the repatriated fund only reach Rp 180 trillion out Rp 1000 trillion from the target. 

Nevertheless, government seems to have more accurate prediction with maximized strategy to ensure the achievement of target. For only 2 months total of ransom fund has reached 40% out of Rp 180 trillion targeted.

Companies are Obliged to Submit Financial Statement to the State

Companies are obliged to  submit their financial statement to the state. it is in accordance with the legal rule article number 24,1998. Coordinating minister of economy affairs, darmin nasution asserted that it's compulsory for the companies to report condition of their finance thus the state will be able to monitor their up date conditions.

So far, many companies have not submitted financial statement. It's mostly caused of no attached criminal sanction for the case. As it is stated in article 24,1998 all the companies which mobilizing public funds or having asset at least $50 billion are required to report their financial statement to the state. 

Indeed, the appeal of darmin nasution is closely related to the plan of companies date base income by the state. This is necessary to monitor the condition of companies particularly to determine tax base. Through the statement of finance, the finance ministry can easily measure the amount of tax supposed to be paid by companies thus minimizing tax evaders. The appeal is closely related to the plan of finance minister to enlarge tax base.

Asia's Economy Growth Relies only Both China and India

China has turned out to be the  most powerful country in term of economy in asia. Asia from china, india is also coming out as the powerful economy country in asia. The massive birth of industry and large market segment has made india to be considered as decisive to determine the asia's economy in general.

According to asia development bank(ADB) though the projected economy growth of asia tend to flow in right track due to no external factors' pressure, however the china and india economy ground the power in asia.

In the late outlook of ADB, the asia economy growth is projected to 5.7% in 2016 and 2017.Meanwhile the policymakers countries like USA and europe union and japan is projected 1.4% this year and 1.8% in 2017.

China and india economy growth push the power of asia economy however the risk of downtrend might occur of potential capital reverse that will be triggered by the change of monetary policy of rich countries like USA.

China's economy according to ADB is predicted to raise to 6.4% to 6.6% in 2017 due to monetary and fiscal stimulus of the bamboo curtain country.China's economy achievement stimulates the strength of asia economy especially to counter the sluggish trend of east asia region's economy growth.

Meanwhile india is projected to attain 7.4% economy growth which is supported by massive consumption of private sectors.Besides, reformation of fiscal in india will revive the investment and pushing to 7.8% growth in 2017.

For south east asia, the the growth of economy is at rate 4.5% in 2016. The policies of countries in this region triggers infrastructure investment  relatively strong just like indonesia which is undergoing tax amnesty program, phillipines and thailand.

Read  The total of Surged in Declared Asset to day Rp 617 Trillion, Offshore declaration is still Minim

Financial Service Authority(FSA) Released 33 Best Companies in Annual Report Award(ARA)

Financial service authority released 33 best companies in annual report award of 2015 the 15th.

The participants of annual report award consists of 303 companies which contains of 288 companies and 15 of the pension fund.

The annual report award was attended by coordinating minister of economic affairs darmin nasution, finance minister sri mulyani and the chairman of FSA muliaman d hadad, director of IDEX tito sulistio.

The event of ARA is held in cooperation with 7 institution which are FSA, stated enterprises, bank of indonesia, general directorate of taxation, natinal committee on governance, BEI and indonesian institute of accountants.

The rate of ARA is based on 8 criteria of the quality of information in annual report particularly transparancy of the compnay and good corporate governance,overview of financial statement, reports of the board commissioners and directions, company profile and the discussion of management on company's performance. 

Here are the list of best companies according to ARA:

1. PT Bank Tabungan Negara (Persero) Tbk.

2. PT Bank Negara Indonesia (Persero) Tbk.

3. PT Sarana Multigriya Finansial (Persero) Tbk.

4. PT Jasa Marga (Persero) Tbk.

5. PT Pupuk Indonesia (Persero) Tbk.

6. PT Pembangunan Perumahan (Persero) Tbk.

7. PT Asuransi Jasa Indonesia (Persero)

8. PT TASPEN (Persero)

9. PT Jasa Raharja (Persero)

10. PT Sarinah (Persero)

11. PT Bio Farma (Persero)

12. PT Angkasa Pura I (Persero)

13. PT Bank Nusantara Parahyangan Tbk.

14. PT Adira Dinamika Multi Finance Tbk.

15. PT Bank Sinarmas Tbk.

16. PT ABM Investama Tbk.

17. PT Elnusa Tbk.

18. PT AKR Corporindo Tbk.

19. PT Bank Syariah Mandiri

20. PT Mandiri Sekuritas

21. PT Bank Sahabat Sampoerna

22. PT Garuda Maintenance Facility Aeroasia

23. PT Pertamina Drilling Services Indonesia

24. PT Pupuk Kalimantan Timur

25. PT BPD Jawa Timur Tbk.

26. PT BPD Jawa Barat dan Banten Tbk.

27. PT BPD Jawa Tengah

28. PT BPD Sumsel Babel

29. PT Indo Pusaka Berau

30. PT BPD Kalimantan Selatan

31. Dapen Telkom

32. Dapen Bank Mandiri

33. DPLK PT Bank Rakyat Indonesia (Persero) Tbk.

Regions are Presumably having Barriers to Absorb Tax Amnesty Fund for Real Sector

Regions are still presumably having barrier to absorb the tax amnesty fund for sector real. It alludes to the complicated permits that are not yet fixed in the regions though the central government has urged to cut the permits that hinder much the investment.

In bali province for instance, the chairman of entrepreneur association(apindo) bali, panudiana kuhn  worried on the hindrance might be encountered to distribute tax amnesty fund in that regions. This account for the complicated permits that are not yet fixed by some regions in that province.

Kuhn said the reason businessmen stashed money in singapore is not out of the interest offered but the ease of business circumstance.

So far the taxpayers are eager to join tax amnesty scheme thus the regions must take advantage to be allocated for real sector like infrastructure. This is must be supported by the ease of regulation for investors in every district in accordance with the convey of central government.

Bali apindo chairman calls for the haste fix of the regulation. He postulated that though in general term the investment in bali has been made easy but there are still district and subdistrict which complicates the permits thus the investors still have to spend more fund for the investment to be sparked. 

Indeed, president jokowi through minister of domestic affairs, cahyo kumolo has cut unnecessary regional regulations that are barriers for investment. However it must be supported by the involvement of regions to execute the discretion in order to haste the growth of economy.

The total of Surged in Declared Asset to day Rp 617 Trillion, Offshore declaration is still Minim

To day september 27th,2016 the huge amount of surged in from treasure declaration is Rp 617 trillion as stated officially released by general directorate of taxation in their official site.
This is the biggest surged in treasure declared since the launch of tax amnesty thus total of declared treasure up to day is Rp 2,150 trillion with total of repatriated fund reaches Rp 128 trillion or 13% from target Rp 1000 trillion.

Majority of declared asset comes from domestic around 68.47% and offshore is still minim around 26.38% and repatriated fund around 5.17%. From that total amount of money, total ransom fund is Rp 69.9 trillion or 40% out of target Rp 165 trillion. 

Tax amnesty will be sued for 9 months which is divided into 3 months division. From july up to september 30th, 2016 is offered lowest ransom rate 2%. From october to december is offered 3% and from january to march 2017 is offered 5% ransom rate.
These rate is offered for tax payers who declare the asset in the country meanwhile offshore declaration is charged 4%,6% and 10% for the third period. Special offer is intended for micro and medium enterprises of which below Rp 10 billion is offered 0.5% and above Rp 10 billion is offered 2%.

200,000 Workers are Threatened being Fired due to Electronic Toll Transaction

Government is acknowledged to use all electronic transaction for all toll road in 2018. However the plan of government is being

deferred by the association of worker unions due to the fate of workers that are being threatened their fate.

The chairman of worker unions, mirah sumirat stated that government has to settle down first the fate of toll booth workers before the applicability of electronic transaction of all toll road.
The use of technology according to mirah is basically good but still has to ensure the fate of workers.
The workers can not just loose their workers thus the government has to prepared necessary things needed for their fate after the work termination, said mirah.

Mirah said that all the toll booth workers have consolidated to make toll road workers alliance. They are contained of stated enterprises workers, the subsidiaries and private sectors.
The toll road workers union according to mirah has initiated to talk with the president and PT. Jasa Marga.  Toll road workers union expect the government to prepare first technical skills for the workers before the applicability of electronic transactions. 

So far the realization of electronic transaction has reached 40%. The government target to finish it by the year of 2018.

Indonesia's Tax Revenue Growth in 2017 Reaches 13% due to Tax Amnesty and Economy Growth

 

Indonesia is much confident to have a significant increase of tax revenue at rate of 13% in 2017. Finance minister sri muly

ani explained that this is possible to attain such high rates of tax revenue provided the government is capable to reach economy growth 5.1% and maintaining the inflation rate at 4%.

According to sri mulyani, it's important for the government to maintain economy with in the country and resisting the influence of sluggish global economy especially in term of export. The country's economy relies much on household  expenditure and infrastructure projects. Government also looks to keep design of the state budget by maintaining its deficit 2.4%.

The confidence of finance minister to reach 13% tax revenue rate is based on the success of tax amnesty.  Tax amnesty helps much the government to expand its tax base. The increase of tax base helps the government to trawl large taxpayers thus increasing the revenue and creating the healthy state budget for the government projects.

The claim of tax amnesty after only twp months since been settled by government is not base less. JP morgan, finance analyst office based in USA consider tax amnesty of indonesia as the most successful ever. 

It exceeds the expectation of government that total declared asset would only reach $30 to $50 billion  or around 400 trillion converted to rupiahs. In fact for only two months total declared asset has reached more than $1000 trillion.

The only challenge of government is global economy slow down to reach targeted tax revenue rate 13% in 2017. This means government can not rely to much on export sector but increase consumption and government infrastructure projects. 

Read Indonesia is much Confident the Value of Export will reach 500% Growth

Bank Central of Asia(BCA) Works with JCB international to strengthen Credit Card Business

duitpintar.com

Bank central of asia(BCA) works with JCB international to strengtehn credit card business. The MOU was signed by director of BCA henry koenaifi and president director of JCB yuichiro kadowaki and Kocihiro wada. The partnership of both companies is to target the segment affluent of indonesia.  

Kadowaki stated that JCB has been partner of work of BCA for 30 years since 1983 in merchant acquiring case. JCB and BCA will offer the more interesting service to the consumer by adopting the system of service that is applied by JCB in japan. This will give addition value for BCA business, said kadowi.

The scope of cooperation between these companies is the release of credit card BCA-JCB and marketing the products to the customers.  Customers will enjoy the deal in the form of competitive exchange rate, program promotion in accordance with affluent segment. 

Up to the first semester of 2016, BCA manages 2.85 million credit cards with the transaction reaching Rp 26 trillion. It increased 6% comapred to the same period of last year. While the BCA outstanding credit card reached Rp 9.9 trillion in the first half grew 6% compared to the last year. The growth of transaction value and credit card out standing is offset by the non performing loans of 1.9%.

Asian Development Bank Revised Down the Projection of Indonesia Economy Growth

Asian Bank Development(ADB) revised down the growth projection of economy growth to 5% for 2016. Previously in its outlook, ADB assessed that indonesia will reach the 5.2% in term of economy growth.
Official of ADB indonesia steven tabor said aside from down projection of indonesia economy, ADB also revised down malaysia 4.1% and vietnam 6%.

The main cause of this according to ADB is that indonesia economy so far has been only bolstered by consumption and investment while the sluggish export due to low demand of global market making indonesia export is stagnate.
For the inflation,ADB predicted to reach 3.5% and 4% in 2017. Meanwhile the growth of economy of indonesia in 2017 is predictably 5.1% lower than march outlook 5.5%.

There is the possibility of budget cut of and postpones of infrastructure projects due to low revenenue. The government thrusts much on tax amnesty repatriated fund to boost the expenditure but nevertheless the impact will be perceived in 2017. While there is still no incredible achievement of tax amnesty itself which is still far from the target of Rp 165 trillion to be included in revised state budget of 2016.

ADB on the other hand considers the economy package of indonesia will be benefit for long term one of which the opening 35 investment scope will withdraw more investors.

Indonesia is much Confident the Value of Export will reach 500% Growth

The performance of export this year is not quite satisfying compared to the same period of last year 2015. The total of export performance of indonesia per august 2016 in three major asean market which are singapore 0.46%, malaysia 14.7% and thailand 6.09% while the other asean market segment increased significantly 13.71% from $5,020.8 million to $5,709.1 million. This is similar to the amount of export to singapore from january to august 2016. 

According to the central bureau of statistic the  total amount of indonesia export is $91,730.4 million decreased to $102,616.9 million around 10.61% compared to last year from period of january to august.

However the chamber of commerce and trade of indonesia (kadin)still confident to increase the rate of export up to 50% by 2025. kadin in chief handito joewono said that the total of export amount in 2025 will be $750 billion. 

Kadin stated to have prepared already the strategy to reach the goal in 2025. They prepared the road map soon to socialize to related stakeholders. In the road map contained 50 main strategy which are additional amount of export, diversification of products, export market development and increase the average export price as well as the development of export ecosystem.

Kadin declared to facilitate the training of exporters especially regarding the quantity and quality of products. Kadin will also call the universities to be in partner giving the training to boost the amount and quality of indonesian products to export.

Huawei Builds Factory of Smartphone in India

gotrend.co.za

Huawei the large communication company builds its factory in india precisely in chennai city. The spark of huawei business in china is in partnership with electronic manufacturers of indian company. 

This facotory of huawei targets to produce 3 million honor smartphone by the end of 2017 and will be operating in october 1th, 2016.

This new factory is estimately to create 10,500 jobs and the first products will be distributed to the market in october 2016.

Chief exectutive officer of huawei india jay chen stated that the annoucement of factory establishment is the commencement of smart phone production in collaboration with flextronics. It will be well equipped with lastest technology of 4G,and 5G plus for indian market. This is the long term commitment to expand business of huawei in india.

Aside from building factory, huawei will strengthen the network service with more than 200 services and 30 services intended exclusively throughout the region. Huawei further to build 45 experience center.

Huawei also will add more 350 distributors and create partnership with 50,000 retail stores up to the end of 2016 as to reach its commiment to be the second largest producer in 2017.

The huawei indian authority considers the spark of business in india as the milestone to for global expansion. 

Total surged in Tax Amnesty before The End of September Reaches Rp 53.62 trillion

Total revenue from tax amnesty reaches Rp 53.62 trillion before the end of september 2016. Based on report from official site of general directorate of taxation, the revenue comes from ransom fund, tax arrears and preliminary termination of evidence tax examination.

From the amount of Rp 53.26 trillion, the arrears reaches Rp 3.06 trillion, meanwhile total from termination of preliminary evidence tax reaches Rp 290.86 billions. 
The revenue of Rp 50.26 trillion comes from 157,286 tax payers both those who have and  not submitted affidavit.

Up to day september 26th, 2016 total of asset from 160,140 affidavits has been reported around Rp 1,769.84 trillion. The domestic declaration reaches Rp 1,198 trillion meanwhile from offshore reaches Rp 480 trillion and total repatriated fund is Rp 92.6 trillion.
The tax amnesty has been ruling for 2 months and end in march 2017. Government targets to reach Rp 165 trillion from tax amnesty to be included in revision of state budget of 2016. 

This is The Strategy of PDIP party to Win Ahok- Jarot in 2017

pemilu.com

There are three couple of candidates in jakarta governor election 2017 namely Ahok-Jarot from coalition of PDIP, Hanura, Nasdem and Golkar, Agus- Sylviana from coalition of Demokrat, PPP, PAN and PKB and Anies-Uno from coalition of Gerindra and PKS.

The general secretary of PDIP, Hasto which endorses ahok-jarot admit have not certained yet of who will be the tough opponent of Ahok-jarot in election to run. 

Hasto said that all candidates have different characters and different voters demography and segment. 

However PDIP party believes in the effectiveness of their strategy based on the experience to win the incumbent in different elections of regions in other places.

There at least two strategy of PDIP for ahok-jarot:

The first, the chairman of PDIP megawati was mentioned to point out directly the spokespersons of campaign for ahok jarot. They are incumbent mayor of surabaya tri risma, governor of central java ganjar pranowo.

Tri risma is a precedent of best leader of the country. She is famous with her breakthrough to bring revolution of programs and infrastructure in surabya. One of his greatest success is to eradication of localization dolly. Risma was chosen by PDIP previously to run in jakarta governor election but she rejected. She was plot to be the rival of ahok when the incumbent ever planned not to use the party in his run. Risma is quite popular figure, she will bring influence for voters in winning the incumbent.

Meanwhile, ganjar pranowo is also the phenomenal governor owned by the state. He is well known for his approach to eradicate illegal practics of corruption in institution and bringing much investors in central java. He will bring impact toward voters in campaign scheme for ahok-jarot.

The second, PDIP prepare strategy to highlight the strength of ahok. They will focus on the proofs of aho-jarot success. Hasto said the party will not think much on the strength oo weakness of their opponents.

Furniture of Indonesia Became Favorites in Forarch exhibition Czech Republic

ForArch was held from september 20th to september 24 th, 2016 in czech republic. The forarch is held in PVA EXPO praha exhibition and opened by finance minister of czech republic andreh babis and regional development minister karla slectova. 

The indonesia pavilion was facilitated by indonesia embassy and being inaugurated jointly by  general director america and europe, indonesia foreign minister, muhammad anshor and ambassador for czech republic aulia a rachman.

Participation of indonesia in forarch expo became the concrete element of the third join commission for economic affairs in czech. There are 5 micro enterprises present andatu jati arjuna, anainda furniture, arezou intrade, dollar firniture from solo and rattan from jakarta.

All the owners of enterprises admitted of having their business attracted by the visitors of exibition. Besides some get potential business partner for europe market. Most of them ask further question on how to buy the products. This is the good hints of foreign business expansion by all these 5  enterprises.

Trans Java Toll Project Does not Use State Budget due to Long Approval Process in Board of Representative

The government still find the fund to bolster the project of trans java toll that requires amount of Rp 70 trillion. 

The leader of infrastructure financing non state budget, bambang brodjonegoro said that trans java project is included in the scheme of non state budget. This year, this ex minister of finance said the find will be acquired and still have to wait the shareholders meeting. He confirms that long process of approval in board of representative will hinder these projects, thus non budget scheme is the ultimate choice.

Bambang said the target of non state budget will be time less funds like pensions, insurances, and fund from private equtiy investors. There are two companies ready to support trans java toll namely PT Taspen and PT BPJS. It assessed that taspen will release Rp 140 trillion meanwhile Rp 220 trillion to boost the government project.

Ex finance minister stated that last year the build of terminal 3 anggkasa pura II usde that state budget which should not be done. It is not proper that state budget used for commercial needs, instead from non budget state fund.

Bambang said to have already received commitment of director of taspen and bpjs. Taspen director said the future of fund will be bleak if resisting on deposit and government securities. The interest will be low.

Aside from funds of these two companies, there are still another resources such as pertamina, pln and telkom. All this non stated budget fund will be used for electricity, toll. ports and airports establishment. 

The Banks are Slowly to Execute Monetary Ease of Central Bank Concerning Credit Boost

The central bank of indonesia in last eight months has some further monetary easing. The last week bank central of indonesia (BI) lowered its benchmark interest rate (BI rate) by 25 basis points, from 5.25 to 5 percent.

The objective of rate lowering is to boost creadit growth so as to bring positive impact on economy growht in macro term.

Nevetheless, bank central policy is not well supported by the banks. They are slowly to decrease the credit rates thus the objective are sluggish to attain.

The banks counts on the reason that banks have to do internal adjustment of liquidity. They still have to fix them and just for this year the banks have to pay off the foreign currency debt.

On the other hand, the decrease of rate is faster than lending rates which is 100 bps or 6.94% from january to augustus 2016, said the representative of BI yofa affandi. Meanwhile the lending rates is slower 52bps or 12.31 percent per august 2016.

Alfarmart Targets to Build 400 outlets in Philippines Next year

probisnis.com

Alfarmart one of large franchise company of indonesia looks forward to build 400 outlets in the philippines. Alfamart under Pt sumber alfaria trijaya tbk its parent company desires to agility of alfamart not only in the country but overseas likewise.

Chairman of alfamart djoko susanto said that alfamart business in the philippines continues to flourish rapidly after two years since its expansion in the neighbor country. According to djoko the target of first three years is to build 300 to 400 outlets there in the philippines. Furthermore, he said that the purchasing power of pilipino is quite high, thus the growth of alfamart as retail business multiplies every year. So far, there are already 185 outlets spread over the part of philippines.

Some companies of neighbor contries like malaysia also initiate the partnership with alfamart for the marketing of their food and beverage products. It is done by malaysia company especially before economy community of asean. 

Last Minute Surprise of Ahok's Challenger and Unclear Mission

kompasiana.com

There are two surprises of candidates to run in governor election of 2017. These two figures are ex minister of education anies baswedan and the son of ex president susilo bambang yudhono, agus yudhoyono. They came out at the last minutes after the official announcement of PDIP party which is decisive in pointing out the route toward the election of jakarta governor next year. 

The most surprising is the decision of democrat party to endorse the son of democrat chairman agus yudhoyono. Agus who is currently a soldier seems to have his career at stake after being pointed out by his dad to be ahok's challenger.

Read also The Reason Ex President Put the Fate of His Son Running in Jakarta Governor Election 2017

Surprises without clear mission. 

It is definitely surprise. Most people predict that yusril who has campaigned his run long before was not endorsed by PKB instead this party choose agus yudhoyono to run. 

The other is ex minister of education anies baswedan. He is not even listed in the survey of candidates to run in election. But out of our expectation, gerindra and pks endorse him. All these surprises are meant to beat the incumbent. 

What becomes interesting when it comes to election, all candidates speak too general about their mission. Take a look at sandiaga uno for instance, in mass media he always says to bring jakarta better, eradicate poverty, creating job opportunities and so on. Now how significance this words to the decision of voters. 

Though it is not yet proved by any survey, current voters are too smart to assimilate and decide for the best candidate. They do not trust much on general words of candidates, they tend to be acknowledged as mere promises, on the other hand they tend to trust on specific programs. This was made by president jokowi in his campaign, he talked about specific things, programs not general broaden idea to bring indonesia returning to be the asia's tiger. This sounds illogical, thus the opponent was proven to lose and jokowi came out as the winner. 

Up to day, no candidate talks about specific programs except Ahok, the incumbent who proves through his programs to diminish flood for instance. Ahok eradicated wild settlement, he wins the heart of jakarta people as being portrayed by satisfaction rate through surverys by credible institution. 

Calculating the opportunity

The best rival of ahok is possibly only anies baswedan. This is because this ex education minister possesses the counterpart of ahok's trait that is much criticized by some. Some considers ahok is to bragging. But some considers it should be done to crackdown the corruption and unresolved problems of jakarta for years before ahok's tenure. 

Based on this, ahok will come out of winner in 2017, however he has to calculate his rival anies whose whim tend to be his counterpart.

Indonesia to Apply Chips in All Debit Cards

detikindonesia.com

Indonesia decide to apply all chips for debit cards that are widespread distributed. In fact, since 2014 Strategic Function Architecture Bank Indonesia (AFSBI) has envision to be the most credible and bank institution of ASEAN in 2024. In aline with the vision, 2022 is the most realistic year to fulfill all the chips for debit cards. This is meant to maintain tightened security for the debit cards. 

Ronald waas, deputy governor of BO stated that in accordance with Bank Indonesia Circular Letter No. 17/52 / DKSP the chip application will be gradually done, 0 % in 2019, 50% in 2020 and 80% in 2021. This means in 2022 the chips use will be fully accomplished.

The bank of indonesia will also apply the must of using 6 digits for debit card pin for the security reason except for the basic saving account which uses magnetic stripes. However which is currently used only placed at the back of card and possible misused or hacked by the third party. 

The use of chips is more on answer to various finance crime of which the hackers can easily steal the account or money without the knowledge of the account owner. In some cases, the customer of bank complaints on the decreasing of the amount saving without their knowledge. This happened with mandiri bank customers years ago. In some cases also, the customer of panin bank lost his millions of money being transferred without the knowledge of the owner. This means the security system of our banks are fragile. The use of chips can be the best solution to provide tight and safe security for bank customers.

The Reason Ex President Put the Fate of His Son Running in Jakarta Governor Election 2017

Ex President susilo Bambang surprisingly endorsed his oldest son agus yudhono who is also a soldier with brilliant career.
The cikeas coalition of which PKB and Democrat, PAN, PPP Parties are synergic to ensures agus step for election in 2017.

Why SBY Dares to Seemingly the Brilliant Career of His Son?

Definitely it is always based on ultimate consideration of this chairman of democrat party before deciding to endorse his son.
In 2017, the agus yudhoyono himself is supposed to be promoted as lieutenant colonel but through his decision to run in governor election, he has to renounce his position as an active soldiers. This is also already been approved formally regarding the denunciation as an active soldier.

Marzuki ali who is also democrat party member said that ex president susilo has calculated the opportunity of agus to win the election. SBY believed that the downtrend favor in incumbent AHOK can be used wisely. Meanwhile most of other contender tend to assail Ahok by opinion of which nevertheless less in favor of citizens, agus' presence will be the best alternative to get the swing voters and anti ahok voters. Marzuki said the trend of groups of anti ahok can fit to direct their choices toward the son of ex president susilo bambang yudhoyono.

The Truth Agus is Aptly Prepared to Replace his Father as Chairman of Democrat Party

The reason of down trend of Ahok is indeed not the most valid reason of ex president susilo bambang yudhoyono. It is because ahok precisely continues to be the most favorable candidate of jakarta governor for 2017 election compared to other candidates like anis baswedan and agus.

It must be strategy of SBY to ensure the son's step to lead democrat party.  The main objective of SBY is to let his family conquering the entire bereucracy of democrat party. In other words, SBY will not allow successor other than his family.

SBY will not put the career of his son at stake. He is just to prepare agus to be the chairman of  democrat. Agus popularity is definitely hard to defeat the incumbent Ahok who has good indicator of popularity and major voters.

c deciding to choose agus yudhono to be the contender of governor election of jakarta 2016 expectedly to beat incumbent Ahok who outleads always the majority of voters through surveys.