Indonesia targets Google, Facebook in push for more tax
It wants to squeeze more revenue as economy under pressure from weak commodity prices and subdued demand from China
Jakarta
INDONESIA is widening its tax net to target global technology giants such as Google and Facebook, a strategy that's raising red flags for fear it may deter foreign investment.
Finance Minister Sri Mulyani Indrawati is seeking to squeeze more revenue out of an economy that's been hit by weak commodity prices and subdued demand from China, Indonesia's biggest trading partner. Halfway through a tax amnesty plan, the government has raised almost 100 trillion rupiah (S$10.5 billion) in income from penalties and is now turning its focus to companies such as Apple, Twitter and Yahoo! .
The latest salvo from the tax office underscores the challenge President Joko Widodo fac…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Singapore ready to harvest economic opportunities in the Philippines: Vivian Balakrishnan
Australia regulator flags surge in company insolvencies to 11-year high
Elon Musk stakes fortune on cult following who made him rich
Even without war in the Gulf, pricier petrol is here to stay
Philippine Coast Guard to join military drills with United States
Australia’s March employment unexpectedly falls 6,600, jobless rate ticks up to 3.8%