Indonesia's asset tax threat to raise revenues
Indonesia’s new tax scheme is incentivising companies to revalue their fixed assets as soon as possible. Its major MNCs have already signed up, but are unsure of how to implement it.
Indonesian companies, including financial institutions, that submit their financial statements with revaluated fixed asset figures before December 31, will only need to pay a 3% tax on the increased amount, down from the previous 10%, Indonesia’s Finance Ministry said on October 22.
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