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Regulation of the Minister of Finance No 9. of 2024 concerning Luxury Sales Tax Exemption on Import and Delivery of Electric Cars 

Passed

This law exempted the import and delivery of electric cars from the luxury goods sales tax for fiscal year 2024. The exemption applied for completely built-up as well as completely knocked-down vehicles. This policy is in line with the Government of Indonesia's target of having 2 million electric cars on the road by 2030.

Regulation of the Minister of Finance No 9. of 2024 concerning Luxury Sales Tax Exemption on Import and Delivery of Electric Cars

A subsidy is a direct or indirect payment to individuals or businesses, typically provided as a government cash payment or a specific tax reduction.

Any compulsory, unrequited payment to the government levied on corporations or individuals. This can be for environmental reasons, such as introducing a Carbon tax to set a price that emitters must pay for the greenhouse gases they emit.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

This sector involves the wholesale and retail selling of goods.

This sector involves activities to move goods and people, alongside the storage of products.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

The activities of industries that transforms raw materials into finished goods through industrial processes.

An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

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Yogyakarta

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Regulation of the Minister of Finance No 9. of 2024 concerning Luxury Sales Tax Exemption on Import and Delivery of Electric Cars

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Regulation of the Minister of Finance No 9. of 2024 concerning Luxury Sales Tax Exemption on Import and Delivery of Electric Cars

Summary

Documents

About this law

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Note

Topics mentioned most in this law
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