Indonesian parliament passes major tax overhaul bill


Reuters | Jakarta | Updated: 07-10-2021 10:25 IST | Created: 07-10-2021 10:23 IST
Indonesian parliament passes major tax overhaul bill
Representative Image Image Credit: Pixabay
  • Country:
  • Indonesia

Indonesia's parliament on Thursday passed into law the government's proposals to overhaul tax regulations, deputy speaker Muhaimin Iskandar said, including raising the value added tax rate next year and scrapping a planned corporate tax cut.

The law also brings in a 35% income tax for those earning more than 5 billion rupiah ($351,000) a year, a new carbon tax and a tax amnesty programme. ($1 = 14,245.0000 rupiah)

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