Indonesia plans to cut corporate tax rate in stages to reach 20% starting 2023 -finmin

Credit: REUTERS/Nguyen Huy Kham

Indonesia's finance minister said on Friday the government would submit to parliament a bill on tax reform next month, proposing to cut the corporate tax rate to 22% in 2021-2022 and 20% starting 2023, from 25% currently.

JAKARTA, Nov 22 (Reuters) - Indonesia's finance minister said on Friday the government would submit to parliament a bill on tax reform next month, proposing to cut the corporate tax rate to 22% in 2021-2022 and 20% starting 2023, from 25% currently.

Sri Mulyani Indrawati told reporters the corporate tax rate for publicly listed companies meeting certain criteria would also be trimmed to 19% in 2021-2022 and 17% from 2023. Companies with at least 40% of their shares sold to the public in the Indonesia Stock Exchange currently pay a 20% tax on profits.

(Reporting by Stanley Widianto; Writing by Gayatri Suroyo)

((gayatri.suroyo@thomsonreuters.com; +622129927609; Reuters Messaging: gayatri.suroyo.thomsonreuters.com@reuters.net))

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