“Hopefully, the application of the omnibus law in the taxation sector and the granting of various accurate and measurable tax incentives will be able to boost investment and improve national competitiveness,” he said while delivering a bill on the 2021 state budget and financial notes at the plenary session of the House of Representatives (DPR) at the Parliament building here on Friday.
The tax incentives are expected to maintain the investment climate in such a way that they will serve as an engine of economic recovery in the aftermath of the COVID-19 pandemic, he added.
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In addition, the relaxation of the policy may also stimulate economic transformation, he continued.
“The government continues to make every effort to expand the tax base and improve tax governance and administration in order to increase and tap potential revenue sources,” he said.
He further revealed the state revenue target of Rp1,776,4 trillion in the draft 2021 state budget, which would comprise Rp1,481.9 trillion from tax receipts and Rp293.5 trillion from non-tax state revenues. (INE)
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