bullish

Indonesia: Tax Reforms Far From Perfect But Is Still A Step In The Right Direction

282 Views05 Oct 2021 14:25
SUMMARY
  • The dissipation of the second wave of infections will allow a modest, broad-based economic recovery: already manufacturing activity and domestic demand seem to be normalising.
  • The government has also introduced tax reforms including a hike in the VAT rate and yet another tax amnesty. Fiscal consolidation is likely to proceed at a faster pace than expected as a result, enabling the authorities to guide the fiscal deficit below 3% of GDP by 2023.
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