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! .
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
China says Hamas and Fatah express will for reconciliation
US consumer confidence at lowest level since 2022
Record gold prices boost recycling: WGC
Malaysian fast food operator QSR shelves IPO plans amid boycott campaign: sources
WHO warns of bird flu risk spreading to cows outside US
Sri Lanka’s key inflation rate rises to 1.5% in April