Thursday 28 Mar 2024
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JAKARTA (April 11): Indonesia is considering cutting the corporate income tax rate to 20% from 25% in the upcoming revision to the income tax law, the finance minister told lawmakers on Monday.

"We are still doing our review, but 20% looks adequate," Bambang Brodjonegoro said in a meeting with the parliamentary commission overseeing taxes.

Last week, he said the government planned to also cut income tax rates for individuals, but did not disclose details. The current income tax brackets for individuals range from 5% to 30%.

He did not give a timeframe when the government would propose changes to the income tax law to parliament.

 

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