Indonesia Financial Sector Be Most blessed Industry

Business conditions in the I quarter-quarter 2009 decreased compared to IV-2008. This can be seen from the tendency Index Business (ITB)-I quarter of 2009 decreased from 102.19 a 96.91 in the quarter I-2008.

This is said by the Head of BPS (Badan Pusat Statistik) Rusman Heriawan in a press meet in his office, Jakarta, Jumat (15/5/2009).

"Industry is happy in the financial sector is industry, because if the foreign sector is experiencing a sharp decline, the financial sector in Indonesia is still a record high profit," he said.

Most of the economic sector has decreased the value of the index sectors except electricity, gas, and water index 105.38; the financial sector, leasing and services company that index 107.88, and the services sector index is 102.96.

On the processing industry experienced a decline in business with the most sharp-index value of 89.86.

"The prospects for business in the quarter-II in 2009, seen from the estimated index of 98.35, which means that in general business conditions in the quarter will still decline," said Rusman.

Rusman said most of the economic sector in the quarter-II in 2009 is estimated to decrease sectors except mining and extraction; sector electricity, gas and water supply and services sector. "Sector is estimated to decrease is the largest business processing industry," his him.

Immadiately Indonesia set state

Indonesia immediately set countries' Paradise 'tax or tax haven. Every country has the criteria for the determination of the tax haven country.

"We are preparing a list of countries which enter into a tax haven category. In time we will no longer publish the regulations. Act actually ordered," said Director General of Taxes Darmin Nasution at the Ministry of Finance Building, Jakarta, Friday (24/4/2009).

Darmin add criteria tax haven countries likely will be published in the Regulations of the Finance Minister, while the list will be determined through the Director General of the decision. Criteria defined at this time Indonesia different possibilities with the criteria specified tax haven country.

"The criteria may vary between one country to another country. It makes the country a set charge 50% or less of their country, then he will be a tax haven. There is also a 60%. China is not one of the 30%, Japan and Korea does not use percentages but he says if Dairi less 50% tax charge is a haven, "Darmin dust.

Indonesia now is considering to use the percentage or rate. Law on tax already set about the problem, but do not have the details.

"Income Tax Act we are not wide enough to give space to what we can we will set more if the country signed in tax haven. One of the Act says that we have concerning the sale and purchase shares, and so forth. The issue is now developing more from a sale and purchase of ownership shares of the company, "said Darmin.

Darmin added, countries or tax haven tax haven near the play-rate tax rate with the surrounding countries.

"It certainly bears the loss not only receipt of revenues in some cases but also economic activities. For the state around that does not follow-follow-up. Yes the tax haven is created for the purpose of interesting activities and funds to countries that deliberately in the design specifically for that," explain again.

OECD has been previously released countries that enter into tax havens blacklist. Neighboring countries Indonesia, Malaysia and the Philippines, including in the black list. Other countries who enter into a tax haven blacklist OECD are: Costa Rica and Uruguay. OECD point these countries do not respect international regulations concerning taxation.

Increasing Need of Dollar and Yen

Announcement of the banking sector stabilization plan by the U.S. Menkeu Timothy Geithner disappointing investors. They are now hunting up to the U.S. dollar and yen, which is considered as the most secure investment. Regional currencies also fell.

Geitner has announced the financial system stabilization program including U.S. $ 500 billion to absorb assets jammed. Also, efforts to increase consumer credit, restrictions on home foreclosure and provide capital for new banks.

"But that step in the forex market is considered to disappoint investors, the lack of detail and they are skeptical about the effectiveness of involving the private sector," said Kathy Lien, analyst from Global Forex Trading as quoted from the AFP, Wednesday (11/2/2009).

On the trade market in Singapore, U.S. dollars are recorded menguat on a number of regional currencies and the euro. Euro single currency was declining to 1.2873 dollars from 1.2910 in the position previously. While the yen also be hunting. U.S. dollar was weakened to 90.35 yen, from 90.44 yen in the previous. The rupiah was also weakened to 11,850 per U.S. dollar.

Deputy Governor Budi Mulya said, the currency in the emerging markets including the rupiah is now currently experiencing impairment.

"Today is when we see the currency not only in emerging rupiah, it's all a jitter bearish. Because what happens in the United States. Seoptimis market is not be a stimulus to the rescue of the value of U.S. $ 838 billion will be approved. But associated with the recovery package the financial sector, which is not yet clear kejelasannya details, so the market thinks there is another so that flight to quality, "Budi dust in the parliament building.

Top dollar is weakening, as usual, BI will always be asserted in the market and seek to minimize volatilitas.

"BI is always there. The BI is always in the market, and minimize volatilitas find that this is because the business and calculation," pungkas Budi.