TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsJokowi thanks House for approving Perppu on financial information access
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
President Joko "Jokowi" Widodo delivers his state of the nation address before members of the People's Consultative Assembly (MPR) on Aug. 16. (JP/Wendra Ajistyatama)
P
resident Joko "Jokowi" Widodo thanked on Wednesday the House of Representatives for approving a regulation in lieu of law (Perppu) on financial information access for taxation purposes, affirming Indonesia’s commitment to the Automatic Exchange of Information (AEOI).
In his state of the nation address on Wednesday, Jokowi said the new policy would help strengthen the country’s taxation system.
"We are optimistic that with the law, Indonesia's state budget will be sturdier because its strength sources directly from the people and each penny of it is used for their interests," said the President.
Read also: The financial disclosure law passes: What’s next?With the approval of the Perppu, Indonesia is ready to join more than 100 countries that have signed the AEOI, next year, the President added.
Indonesia, the largest economy in Southeast Asia, is struggling to widen its tax base to achieve its tax revenue target of Rp 1.28 quadrillion (US$96 billion) this year.
The country's tax ratio stands at around 11 percent of the gross domestic product (GDP), relatively low compared to its peers. (bbn)
