Indonesia: New tax ratio from 2022 seen at 9.22% of GDP

• Indonesia’s new fiscal measures will increase government revenues relative to gross domestic product, or the tax ratio, to 9.22% next year, compared with an estimated range of between 8.4% to 8.6% in 2021 to 2025, its finance minister said.
• Sri Mulyani Indrawati also told a virtual news conference recently that the new tax measures would add less than 0.5 percentage points to headline inflation in 2022.
• Finance Minister Sri Mulyani Indrawati said the new fiscal measures will increase 2022’s tax revenue by around IDR139.3tr (USD9.80bn), taking the tax ratio of South-East Asia’s biggest economy to 9.22% of GDP, from 8.44% without the new law.

External Link : https://www.thestar.com.my/aseanplus/aseanplus-news/2021/10/10/indonesia-2022-tax-ratio-seen-at-922-of-gdp-after-new-tax-law-limited-impact-on-inflation-say/