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View all search resultsTalks over a global tax deal are continuing well past a June 30 deadline and governments are now looking to a Group of 20 finance leaders meeting this week for progress on a stalled plan to reallocate taxing rights on large multinational companies.
The Finance Ministry has collected more than Rp 2.5 trillion (US$166.8 million) in value-added tax (VAT) and income tax obtained from digital companies and services in the first six months of this year as it taps new revenue streams to offset higher spending and keep fiscal consolidation on track.
The probes are among several still open USTR Section 301 investigations that could lead to tariffs before President Donald Trump leaves office or early in the administration of President-elect Joe Biden. Among these is a more advanced probe into France’s digital services tax.
The tax office has added another 10 companies to its list of "VAT collectors" as it pushes to collect more tax amid the coronavirus-induced decline in revenue and increased consumer shift to online services.
“G20 countries should avoid withdrawing stimulus too early and ensure vaccine access and availability, which are crucial to handling the pandemic and supporting economic recovery,” the finance minister said in a statement following a virtual meeting between finance ministers and central bankers of G20 countries on Oct. 14.
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