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Govt ponders stamp duty bill, plans to introduce digital stamp
The new stamp duty bill is expected to enable the government to tax digital business documents and boost state revenue collection.
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Finance Minister Sri Mulyani Indrawati (center), accompanied by Deputy Finance Minister Mardiasmo (left), talks to a legislator after presenting fiscal policy principles as part of the 2020 state budget in Jakarta on Monday. (Antara/Puspa Perwitasari)
The government is proposing a new stamp duty bill to the House of Representatives to replace the current Law No. 3/1985, which is considered outdated and is unable to cope with information technology developments.
The new stamp duty bill is expected to enable the government to tax digital business documents and boost state revenue collection.
Finance Minister Sri Mulyani Indrawati has officially asked members of the House Commission XI overseeing finance and banking to revise Law No. 13/1985 on stamp duty as the government deemed it to be outdated.
“The law can’t cope with the current state revenue needs, as well as the rapid development of the economic, social and information technology we’re seeing today,” she said in a hearing with the lawmakers in Jakarta last Wednesday.
This year, the government has projected to collect Rp 2.16 quadrillion (US$153.05 billion) in revenue, of which Rp 1.79 quadrillion is expected to come from tax revenue, including from stamp duty.
