House approves regional tax bill

The House of Representatives has passed a bill on regional tax and retribution that is aimed at increasing regional revenues, whilst improving the general investment climate.

"All 10 factions of the House endorsed the bill, which will be effective next year," said Muhaimin Iskandar, House vice speaker, in a plenary session.

"Under the bill, taxes and retributions implemented by regions are expected to feed into the economy and stimulate growth without burdening key economic players," said Finance Minister Sri Mulyani Indrawati.