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[JAKARTA] Indonesia's President Joko Widodo is considering cutting the corporate tax rate to 17 per cent from 25 per cent to match Singapore's tax rate, he was quoted as saying on the cabinet secretary's website on Wednesday.
"The thinking is simple. If Singapore's corporate income tax is 17 per cent and ours is 25 per cent, everybody will go there," Mr Jokowi told a tax amnesty roadshow on Tuesday night, according to the website.
The government is mulling whether to directly cut the current tariff to 17 per cent or to do it in two stages, where the tariff is first lowered to 20 per cent and then 17 per cent, the website said.