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September 10, 2019
Indonesia announces plan for key tax changes
Indonesia’s Minister of Finance announced on 3 September 2019 the Government’s plan to introduce legislation on a number of tax changes (the New Tax Law). The New Tax Law will impact the Income Tax, Value Added Tax (VAT), and General Tax Provision laws. The legislative process is at a very early stage and many key aspects of the proposals will not be clear until the draft law is circulated to the public.
Key highlights of the proposed changes are:
1. The benchmark rate will be determined by the Minister of Finance on a regular basis.
For additional information with respect to this Alert, please contact the following:
EY Indonesia, Jakarta
Ernst & Young LLP (United States), Indonesia Tax Desk, New York
Ernst & Young LLP (United States), Asia Pacific Business Group, New York