Indonesia Plans to Increase Tax for High-Income Individuals

May 24, 2021, 9:21 AM

Govt seeks to impose 35% income tax on individuals with an annual salary of above 5 billion rupiah ($348,311), Finance Minister Sri Mulyani Indrawati told a parliamentary meeting on Monday.

  • Income tax rates and brackets for individual taxpayers will also be adjusted
    • NOTE: Indonesia currently has four brackets of income tax rates, ranging from 5% to 30%, for individual taxpayers
    • NOTE: Indonesia Considers Revamping Value-Added Taxation Structure
  • Govt also plans to impose higher value-added tax rates on certain luxurious goods and services, and may lower the rate for goods and services considered sensitive to purchasing power
  • NOTE: Indonesia Considers Tax ...

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