Indonesia accelerates tax reforms, cuts corporate income tax

A banner shows a message urging taxpayers to submit their returns. - The Jakarta Post

JAKARTA (The Jakarta Post/ANN): Indonesia is accelerating its planned tax reforms, including cutting corporate income tax and collecting taxes from tech companies, as part of the financial playbook to fund Covid-19 relief efforts.

Finance Minister Sri Mulyani Indrawati said the government expected a 10 per cent drop in tax revenue this year as a result of incentives for businesses to help them cope with Covid-19 and reduced non-tax revenue on account of falling commodity prices.