Indonesian Finance Minister Sri Mulyani Indrawati has reportedly confirmed that the country's standard VAT rate will be increased from 11% to 12% as scheduled with effect from 1 January 2025, despite calls to maintain the current rate to avoid pressure on consumers. As previously reported, the law for the 2022 State Budget, Law No. 7 of 2021 on the Harmonization of Tax Regulations, provided for an increase in the VAT rate from 10% to 11% from 1 April 2022 and to 12% from 1 January 2025. The i…