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Why Indonesia should raise the income tax of the ultra-rich individuals

By Nurhastuty K. Wardhani, Faculty Member, Trisakti University
Asmiati Malik, Adjunct assistant professor, Universitas Bakrie

Indonesia, Southeast Asia’s largest economy, could maximise its tax revenue by increasing the income tax for wealthy individuals – those with a net worth exceeding US$1 million or Rp 14.2 billion – that continue to grow in number every year.

This could help Indonesia tackle the country’s Rp 553.09 trillion state deficit due to the ongoing spending of the National…

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