Indonesia passes major tax overhaul bill and VAT to rise next year

JAKARTA, Oct 9 (Reuters): Indonesia's parliament approved a law on Thursday for one of the country's most ambitious tax overhauls, including raising VAT next year, a new carbon levy and cancelling a planned corporate tax cut.

The law is aimed at optimising revenue collection and improving tax compliance, after state coffers took a big hit this year and in 2020 due to the COVID-19 pandemic.