JAKARTA. Let’s forget to have similar income tax rates to Singapore as promised by President Joko Widodo some time ago. Presumably, having similar tax rates to Singapore was just a dream. Head of the Fiscal Policy Office (BKF) at Ministry of Finance (Kemkeu) Suahasil Nazara said that to date the Kemkeu is completing the draft revision of the Law on Income Tax and the Law on Value Added Tax (VAT). The target is, "Next year, the two drafts will go to parliament," he said, Wednesday (16/11). He stated that Kemkeu will propose the reduction of income tax rates, both personal and corporate income taxes. But, Suahasil stressed that the proposal is not at the initial plan, which is equal to Singapore, on the grounds that Indonesia and Singapore have different needs.
Similar tax rates to Singapore was just a dream
JAKARTA. Let’s forget to have similar income tax rates to Singapore as promised by President Joko Widodo some time ago. Presumably, having similar tax rates to Singapore was just a dream. Head of the Fiscal Policy Office (BKF) at Ministry of Finance (Kemkeu) Suahasil Nazara said that to date the Kemkeu is completing the draft revision of the Law on Income Tax and the Law on Value Added Tax (VAT). The target is, "Next year, the two drafts will go to parliament," he said, Wednesday (16/11). He stated that Kemkeu will propose the reduction of income tax rates, both personal and corporate income taxes. But, Suahasil stressed that the proposal is not at the initial plan, which is equal to Singapore, on the grounds that Indonesia and Singapore have different needs.