Government to Issue Tax Omnibus Law, Drives Investments
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29 November 2019 02:08 WIB
TEMPO.CO, Jakarta - Minister of Law and Human Rights Yasonna Laoly said that the government is currently drafting an omnibus law for tax issues. Yasonna asserted that the law will be made to improve investment climate in Indonesia.
"It drives investment to be exact, incentives, and create more jobs as well," Yasonna said on Thursday, November 28, 2019.
The tax omnibus law, as Yasonna explained, is currently being drafted by Finance Minister Sri Mulyani Indrawati and her team of experts. Yasonna claimed that he has no information on the number of policy that will be revoked or amended with respect to the omnibus law.
Sri Mulyani had said that the tax omnibus law covers simplification, economic zones, and research and development. One of the policy that will be affected is the corporate tax, which will be reduced from 25 percent to 20 percent gradually until 2023.
Yasonna said that there are changes in two of the previously proposed omnibus law, which are Law in Job Creation and Micro Small-Medium Business
Yasonna explained that the two omnibus law will be merged in to one Draft Bill for Job Creation and Micro, Small-Medium Enterprises and is currently under intense discussion by 13 work groups.
Yasonna added that two of the omnibus law draft will be included in the National Legislation Program (Prolegnas) of 2020. The draft is targeted to be completed on January 2020 although the House of Representatives had limited the deadline of the draft submission to December 11, 2019.
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