Thu, 20 Aug 2009
From:
JAKARTA -(Dow Jones)- Indonesia will abolish thousands of taxes and levies under a new regional taxation law passed this week, President Susilo Bambang Yudhoyono said Wednesday in a speech to lawmakers.
The law includes a so-called "closed list" that stipulates the type of taxes and levies that may be imposed by regional governments, in order to improve the investment climate by stamping out double taxes and illegal duties.

"In compliance with our common commitment to create a favorable investment climate in the regions, the government has abolished, is abolishing and will continue to abolish various regional levies which are inconsistent with regulations," Yudhoyono said.

He said the central government has recommended that over 5,000 proposed and existing regional regulations on taxes and levies be abolished, largely in the transportation, industry, trade and agriculture sectors.



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