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December 9, 2024 | 11:03 pm
TEMPO.CO, Jakarta - Here are three popular news compiled by Tempo English today, December 9. Those include Top 10 Richest Singers in the World 2024, Who Holds the Most Fortune?, 8 Best Countries to Start a Business, Low Tax Rates and Fast Setup, and Prabowo to Increase VAT for Luxury Goods in 2025.
The following is the list of the top 3 news on Tempo English today:
1. Top 10 Richest Singers in the World 2024, Who Holds the Most Fortune?
TEMPO.CO, Jakarta - Music has always been a lucrative industry. However, for certain artists, their wealth extends far beyond their melodies and lyrics. These music icons even amass a fortune reaching astronomical figures, making them among the world’s billionaires.
In this article, we’re going to find out the top 10 richest singers in the world in the year 2024. So, who holds the most fortune in the music industry this year?
2. 8 Best Countries to Start a Business, Low Tax Rates and Fast Setup
TEMPO.CO, Jakarta - What is an income tax? Investopedia defines income tax as a type of tax imposed by the government on income earned by businesses or individuals. Every year, these entities are obligated to file an income tax return.
While income tax is a vital source of government revenue in many countries, some operate without this type of tax due to the presence of more robust revenue streams, like tourism or natural resources.
So, what are those countries where people are not required to pay income tax? Citing Investopedia and Nomad Capitalist, here’s the list of countries with no income tax.
3. Prabowo to Increase VAT for Luxury Goods in 2025
TEMPO.CO, Jakarta - President Prabowo Subianto officially decided to raise value-added tax (VAT) for luxury goods. The government has set a target for next year's VAT income at IDR 945.1 trillion. The Executive Director of the Institute for Development of Economics and Finance (Indef) Esther Sri Astuti, stated that the government has the option to cancel the increase in VAT in 2025. However, the urgent need for funds led to the decision to proceed with the increase, even though directly impact the people's purchasing power.
According to Esther, the fastest way to achieve revenue targets is by increasing VAT. "That's the easiest way," she said when contacted on Friday, December 6, 2024.
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Prabowo to Increase VAT for Luxury Goods in 2025
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President Prabowo will be increasing VAT for luxury goods next year as the government sets new targets.
Prabowo Says 12 Percent VAT to Be Applied Selectively Next Year
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President Prabowo ensures that VAT increase will be implemented in accordance with the law starting in January 2025, for luxury goods.
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Prabowo says he directly invited Jokowi when he knew Jokowi was in Jakarta.
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Minister of Public Works (PU) Dody Hanggodo revealed plans for President Prabowo Subianto to move to the Nusantara Capital or IKN.
Today's Top 3 News: Prabowo Approves VAT Hike to 12% Next Year but Only for Luxury Goods
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Here is the list of the top 3 news on Tempo English today.
