Indonesian President Announces Plans for Corporate Tax Rate Cut while Promoting New Tax Amnesty Program

According to a release from the Indonesian Cabinet, Indonesian President Joko Widodo has announced that the government is considering a cut in the corporate tax rate in order to be competitive in attracting investment, especially in relation to Singapore. Any cuts would likely be implemented in phases, with a possible initial cut from 25% to 20%, followed by a second cut to 17%.

Widodo announced the tax cut plans while speaking at an event to promote Indonesia's new tax amnesty program, whi…