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The business world, economists and parliament asked the government to cancel the planned increase in value added tax (VAT) next year.

The increase in VAT will hit the purchasing power of the lower middle class who have not yet recovered from the pandemic. If the VAT rate is forced to increase, economic growth could contract again. To increase state revenue, the government is better off using the extensification method or expanding the taxpayer base. Meanwhile, the intensification method by increasing the VAT rate is only appropriate when the tax base is large enough and economic conditions are growing rapidly so as not to experience overheating. The request was conveyed by Deputy Chairperson of the Indonesian Employers Association (Apindo) Shinta Widjaja Kamdani, Deputy Chairperson of the Indonesian Chamber of Commerce and Industry for Trade Benny Soetrisno, Head of Finance and Banking Division of the Indonesian Young Entrepreneurs Association (Hipmi) Ajib Hamdani, and Deputy Speaker of the Indonesian House of Representatives Abdul Muhaimin Iskandar. . The same thing was conveyed by DPR member from the Golkar Party faction Mukhamad Misbakhun, researcher from the Center of Reform on Economics (Core) Indonesia Yusuf Rendy Manilet, economist from the Institute for Development of Economics and Finance (Indef) Tauhid Ahmad, and Chief Economist at PT Bank Mandiri (Persero) Tbk. Andry Asmoro. They were separately contacted by Investor Daily in Jakarta, last weekend, regarding the government's plan to increase VAT rates in 2022. This plan was raised at the 2021 Central Development Coordination Meeting, in line with the outlook for tax revenues in 2022 of Rp 1,499.3 trillion to Rp 1,528.7 trillion. This figure is up 8.37-8.42 percent from this year's projection of Rp. 1,444.5 trillion. The Coordinating Minister for the Economy, Airlangga Hartarto, previously revealed that the government would immediately submit a revision to the rules for increasing the VAT rate to the DPR. If approved, the VAT rate charged to consumers could be higher than the usual rate of 10%.

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In the virtual talk, representatives of consumers and business actors voiced the importance of the availability of ecolabelled palm oil products as a real step to become a smart consumer.

The discussion, which was attended by representatives of the palm oil industry, retail companies and consumer representatives, was initiated by the WWF Indonesia Foundation (WWF-ID) and the Roundtable on Sustainable Palm Oil (RSPO). The discussion discussed the importance of the availability of ecolabels in products containing sustainable palm oil to realize a sustainable palm oil industry in Indonesia. “Ecolabelling is very important for consumers as a basis for being able to choose and distinguish between sustainable palm products that are in accordance with environmentally friendly social standards and those that are not,” said Imam A. El Marzuq, RSPO Senior Manager Global Community Outreach & Engagement. It is known in a 2015 survey conducted by Deameter, as many as 71 percent of consumers are willing to switch consumption to products that use sustainable palm oil and 27 percent of them are willing to pay more. While the MarkPlus 2020 survey showed a significant increase, as many as 82 percent of consumers are willing to switch consumption to products that use sustainable oil and are willing to pay a price increase for products that use sustainable palm oil. The increase ranged from 1,200 to 6,700 rupiah. In a press release Sustainable Palm Products Need Ecolabeling: Becoming #ConsumenCerdas2021 by Choosing Ecolabeled Palm Products, Head of Footprint and Market Transformation WWF Indonesia, Aditya Bayunanda said, the significant increase in public willingness needs to be answered by industry players by clearly showing products that use sustainable palm oil, through the use of ecolabels and it is time for industry players to answer the market demand for ecolabelled palm products.

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Commodity prices of crude palm oil (Crude Palm Oil / CPO) managed to strengthen again this week although only traded for 3 days.

Vegetable oil was able to soar on the last trading day of this week to welcome the Eid al-Fitr holiday. The price of CPO contracts for July delivery is currently at the price level of RM 4,506/ton or 1.78% and has touched its new highest level in the last 13 years. Soaring palm oil on Bursa Malaysia was also accompanied by soaring palm oil on the Chicago Board of Trade and Dalian Exchanges and tended to be on the defensive as May production could rise slightly due to lack of energy for harvesting. On the Dalian Exchange, the most active soybean contract, Dalian DBYcv1 and its palm oil contract DCPcv1 both rose 3%. Meanwhile soybean prices on the Chicago Board of Trade BOcv1 rose 1.4%. Traders now await the release of the World Agricultural Supply and Demand Forecast report due later today to show supply pressures through 2022. The United States Department of Agriculture (USDA) will provide its first global outlook for grain and soybean farming in 2021/2022 and update forecast for 2020/2021 in the report. The significant price increase was due to expectations of tighter supply in producing countries such as Indonesia and Malaysia. However, recently the Malaysian Palm Oil Board (MPOB) reported April stockpiles rose 7.1% over the previous month to 1.55 million tonnes. At the same time, CPO production also rose 7% compared to the previous month to 1.52 million tons. Palm oil exports rose 12.6% to 1.34 million tonnes in April according to MPOB data.

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Coordinating Minister for Economic Affairs Airlangga Hartarto appreciated the release of the export program for floriculture and vegetable seeds.

According to him, exports accelerate the Government's program in an effort to achieve national economic recovery through increased exports. Floriculture or ornamental plants, which is a part of the horticulture sub-sector, is considered to have great potential to be developed in Indonesia. Indonesia's biodiversity provides business opportunities for ornamental plants, both for domestic and global needs, whose markets are still wide open. The global market value of ornamental plants reaches a value of 22.329 billion US dollars. That figure is higher than coffee and tea. However, Indonesia has only filled the world market niche of 0.1 percent. Indonesia also has great potential in exporting vegetable seeds to foreign countries. Almost all vegetable products in Indonesia have market potential outside, especially in ASEAN, such as Malaysia and Thailand. Some commodities that are in high demand include kale, tomatoes, beans, pumpkin, and long beans. It's just that the demand for exports is wider than in terms of production. Airlangga conveyed the direction conveyed by President Joko Widodo at the Jakarta Food Security Summit (JFSS), Closed Loop initiation needs to continue to be developed, especially in the context of developing partnerships from upstream to downstream. Closed Loop partnerships are necessary to increase productivity.

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Building an integrated smart city, nowadays is not only about architecture and technology.

However, it is also the network infrastructure, which allows the so-called 'smart' concept to be realized. VP of Sales Smartfren Business Noer Tattu Supanery said, Smartfren Business has ICT & LoT Solutions support services, enterprise mobility management (EMM), infrastructures and managed services, and iZoom Poly Solution video conference. These various services are presented to revive the infrastructure and property business. ICT & LoT Solutions support services, are very dependent on the form of the property being built because the use cases are slightly different. For example, how to build infrastructure for a hotel will be different from an office, hospital, or residential. Furthermore, enterprise mobility management (EMM) is how Smartfren integrates mobility. "For example, how to make everything currently able to be integrated. Because now everything is completely Internet of Things, so mobility is the key," said Noer. According to him, connectivity is part of the infrastructure and managed service support services. However, connectivity must also be addressed first. "

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Starting at the end of this month, property developer Sinar Mas Land plans to hand over the Klaska Residence apartment unit on Jalan Jagir Wonokromo,

Surabaya to future buyers in stages. This is after the completion of Azure's first tower construction. Project Division Head Sinarmas Land Surabaya, Aditya Sutantio, is grateful that the construction of the first tower is in line with the target. Currently, about 90 percent of the final settlement remains. "Our target is that there will be 700 units, especially those that have paid off, which will be handed over to buyers throughout this year," he said, adding that since its launch in 2016, Klaska Residence apartment sales have reached 80 percent of the total 1,043 units. in the Azure tower. He is optimistic that by the end of this year the remaining 20 percent have been sold out. "With the exemption of VAT (Value Added Tax) in the period March to August 2021, we believe we can boost sales," he said. In addition, the number of sales promotions and the effectiveness of online and social media marketing concepts are also powerful enough to attract buyers. "Before the pandemic, there were quite a lot of investors, now with digital marketing, many end users are making transactions, especially those from outside Java," Aditya explained. Sales and Promotion Coordinator for Sinar Mas Land East Indonesia, Arvina Syawir, added that the government's VAT exemption stimulus was indeed widely used by buyers at Klaska Residence. His party itself greatly benefited from this moment, considering that there were around 200 apartment units that were ready stock.

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Even though it's only a three-day gig, the price of CPO goes up again

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Sinar Mas Land Immediately Handover the Klaska Residence Apartment Unit

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