Coordinating Minister for Economic Affairs Airlangga Hartarto (Photo: republika.co.id) Jakarta (VNA) – Indonesia ’s Coordinating Minister for Economic Affairs Airlangga Hartarto announced on August 11 that the government is preparing to stop allocating the budget for COVID-19 handling and national economic recovery ( PC-PEN ) from the end of this year. According to him, based on Law No. 2 of 2020 concerning State Finance and Financial System Stability for COVID-19 Handling Efforts, the state budget deficit has been allowed to exceed 3 percent of the national gross domestic product (GDP) for three years till 2022 The government will not allocate a budget for COVID-19 handling and national economic recovery, but this does not mean that it will not continue its programmes in the health and social protection sectors, the minister clarified, adding that the fund will entirely be returned to each sector like before the COVID-19 broke out. Earlier, Finance Minister Sri … [Read more...] about Indonesia announces end of pandemic handling fund
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Hanoi university student crowned first Miss World Vietnam
Your browser does not support the audio element. A 19-year-old college student from the northeastern province of Cao Bang was crowned the new Miss World Vietnam 2019 after beating out 39 beauty contestants in the pageant finale on Saturday night, becoming the first Vietnamese woman to clinch such a title. Luong Thuy Linh, born in 2000 in Cao Bang, was declared Miss World Vietnam in the finale in the central city of Da Nang, a victory allowing her to represent Vietnam at the oldest-running global beauty contest Miss World in the UK this December. Two other young women, Nguyen Ha Kieu Loan and Nguyen Tuong San, claimed the first and second runner-up titles and will represent Vietnam in Miss Grand 2019 in Venezuela and Miss Intercontinental 2019 in India later this year, respectively. Top 3 Miss World Vietnam 2019 Nguyen Hoa Kieu Loan, Luong Thuy Linh, Nguyen Tuong San (from left) are seen in this supplied photo. This is the first time Miss World Vietnam 2019 … [Read more...] about Hanoi university student crowned first Miss World Vietnam
Law on Personal Income Tax inconsistent
This move should in fact have been done two years ago in 2020, when the Consumer Price Index (CPI) at that time had increased to 22 percent compared to the time when the Law had come into effect. This is because the Law stipulates that when the CPI increases above 20 percent it must be adjusted. Tax rates not reasonable It is believed that the proposal to amend and adjust the Law on Personal Income Tax is too slow because the Ministry of Finance is trying to make its own adjustments even when the tax regulations and calculations are no longer consistent with ground reality. Because when the value of money decreases due to inflation, tax milestones and family deductions also decrease accordingly, making the lives of wage earners and dependents more and more difficult. Even in the difficult years of the Covid-19 pandemic, the income of employees decreased, but PIT still increased steadily. Only in the first quarter of this year, the PIT amount was estimated at 43.3 percent of the … [Read more...] about Law on Personal Income Tax inconsistent