Entertainment Businesses Face Threat of Bankruptcy Due to 40%-75% Entertainment Tax

INDUSTRY 
Entertainment Businesses Face Threat of Bankruptcy Due to 40%-75% Entertainment Tax 
Indonesia's entertainment businesses, including karaoke, discotheques, nightclubs, and bars, are at risk of closure after the Constitutional Court (MK) rejected a request to challenge the specific tax rates on entertainment services. The Govt. has set a minimum entertainment tax of 40%, as per the 2022 Law on Financial Relations between the Central and Regional Governments (UU HKPD). These high taxes will make it difficult for businesses to survive and may lead to corruption between local authorities and business owners to avoid the tax. While tax incentives like the 10% corporate income tax relief are available, few local Govt., apart from Bali, are offering this support. (Bisnis.com)

COMPANY
Adaro Andalan Indonesia (AADI) Sets 2025 Coal Production Target at 65.5 mn Tons 
AADI aims to achieve a coal production target of 65.5 mn tons in 2025, maintaining a similar level to 2024's projection. AADI's subsidiaries are expected to contribute to this total, with a mix of thermal and metallurgical coal production. In 2024, AADI's predecessor, ADRO produced 55.7 mn tons by the end of Sep, a 10% increase from the same period in 2023, with sales volumes rising by 9%. Strong coal demand from key Asian markets, including China, Japan, India, and Southeast Asian countries, citing favorable market conditions and attractive coal prices. (Bisnis.com)