Sri Mulyani Pledges Fair Tax Regulations for Fintech Industry

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Markus Wisnu Murti

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  • Finance Minister Sri Mulyani. TEMPO/Tony Hartawan

    Finance Minister Sri Mulyani. TEMPO/Tony Hartawan

    TEMPO.CO, JakartaFinance Minister Sri Mulyani Indrawati affirmed that her ministry would issue fair regulations on taxation for the financial technology or fintech industry.

    “The Indonesian government, especially the Finance Ministry, will continuously hold dialogue with industries in light of the tax regime that can be viewed as fair taxation,” said Sri at the 2019 Indonesia Fintech Summit & Expo in Jakarta, Monday, September 23.

    According to Sri, the government strives to draft a taxation policy, especially digital tax for entrepreneurs of startups and e-commerce companies, in a bid to create justice for both conventional and digital firms in the archipelago.

    The former World Bank managing director said that the ministry would also design fair taxation policy in other countries. “Because there are many borderless transactions so we will issue global, borderless regulations yet still fair,” she underlined.

    On the other side, the minister mentioned better data management such as data collection, data usage, and data security were necessary to realize fair policy.

    “In my opinion, Indonesia needs laws. We have already had the ITE Law, but does it provide enough data security and safety? I think we must reset it. This is what the government develops,” Sri Mulyani said.

    ANTARA