Indonesia’s maximum taxable wages for Pension Plan Program contributions increased effective March 1 based on the country’s GDP growth in 2022.
Indonesia’s GDP grew by 5.31% in 2022, Statistics Indonesia said in a Feb. 6 news release (Indonesian).
The new taxable wage threshold is adjusted each year by the percentage by which the GDP changed in the previous year and rounding down to the nearest multiple of 100 rupiah. The new threshold is 9,559,600 rupiah (US$619.49), up from 9,077,600 rupiah.
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