Ministry of Economy and Finance has announced the abolition of Prakas No. 360 MEF.PrKPD, dated on 22 August 2024 on the Introduction of the Implementation of the Sub-decree on Tax Incentive for Informal Economic Development.

The previous Prakas No. 360 MEF.PrKPD, dated June 19 2024, outlined the introduction and implementation of sub-decree concerning tax incentive for the informal economic sector.

This Prakas aims to officially annul Prakas No. 360 MEF.PrKPD and its provisions, which were established to regulate and promote the formalization and growth of the informal sector.

The Prakas also clarifies that the guidelines and incentives established in Prakas No. 360 MEF.PrKPD are no longer effective from the date of signing.