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Indonesia’s incoming president, Prabowo Subianto, is considering the possibility of reducing the corporate income tax rate from 22% to 20%, as reported by CNBC Indonesia on Sunday, citing an adviser. Prabowo, set to assume office on Oct. 20, has promised to enhance tax compliance in order to increase tax revenue to 18% of gross domestic product. One of his proposed strategies includes separating the tax and custom offices of the finance ministry to establish a state revenue agency.
According to Dradjad Wibowo, a Prabowo adviser, there is a hope to lower corporate income tax in the future if government revenue conditions allow for it. Foreign investors have expressed concerns over potential relaxation of fiscal discipline in Indonesia as Prabowo plans to expand the number of government ministries. Nonetheless, a senior aide has reassured that Prabowo will maintain the agreed spending levels for 2025 and adhere to existing budget regulations.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.
