IFC-Jakarta Govt to Simplify SMEs Taxation

Good news for entrepreneur around the Big Durian a.k.a. Jakarta. According to Sarvesh Suri the IFC’s country manager in Indonesia. International Finance Corporation belongs to World Bank Group, focusing on finance-related affairs, entrepreneurship is one of their areas of concern.

During my brief interview with Mr. Suri at Kempinski Hotel, May 21st 2013, he mentioned some of the organization’s plans, which involves small medium enterprises (SMEs). “Say we are engaging with the government of Jakarta to see how we can help simplify taxation process for SMEs because now SMEs can benefit, the way they file the taxes. The process is simplified so that is an example to reduce the time, efforts, etc,” explained the Indian-blooded top executive.

The organization Suri leads seems to be focusing on the Indonesian entrepreneurs and small businesses, too. “The way we do work with SMEs is through 3 specific areas; i.e. work with the government doing business reforms and business climate because we have seen that once the business climate of a country improves, the number of SMEs also increases. So entrepreneurs can benefit from it,” he added.

Still according to Suri, another example of IFC involvement in improving the business climate in the country is the setup of a one-stop shop in cooperation with Jakarta Authority, in order to ease the usually tedious, lengthy and inefficient registration procedure.

Financing, thankfully, falls into one category of IFC’s plans. One area of IFC’s work with SMEs is providing them with financing, said Suri. “They need money, capital to grow fast and to employ more people and that is what we do with financial institutions. We help them to promote their SMEs by providing banking facilities.”

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