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Indonesia 2022 tax ratio seen at 9.22per cent of GDP after new tax law

Indonesia 2022 tax ratio seen at 9.22per cent of GDP after new tax law

FILE PHOTO: Indonesia's Finance Minister Sri Mulyani Indrawati attends the World Economic Forum on ASEAN at the Convention Center in Hanoi, Vietnam September 12, 2018. REUTERS/Kham

JAKARTA : Indonesia's new fiscal measures will increase government revenues relative to gross domestic product, or the tax ratio, to 9.22per cent next year, compared with an estimated range of between 8.4per cent to 8.6per cent in 2021 to 2025, its finance minister said.

Sri Mulyani Indrawati also told a virtual news conference on Thursday that the new tax measures would add less than 0.5 percentage points to headline inflation next year.

Indonesia's parliament earlier on Thursday passed into law a major fiscal bill that included a value-added tax hike in April 2022.

(Reporting by Gayatri Suroyo and Fransiska Nangoy; Editing by Gareth Jones)

Source: Reuters

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