Jokowi challenger plans Singapore-like low taxes for Indonesia

SINGAPORE (Nov 15): Indonesian presidential candidate Prabowo Subianto will slash corporate and personal income taxes if he comes to power, part of a plan to compete with low-tax neighbors like Singapore in luring more investment to Southeast Asia’s biggest economy.

Tax reform is one of the key economic programs that Prabowo, as the former general is known, will outline in his election campaign against President Joko Widodo ahead of the April vote, according to Dradjad Wibowo, a politician from the National Mandate Party who is helping to formulate policy for the Prabowo camp.

The plan, which may be rolled out over 10 years, is yet to be finalized, Wibowo said. While he didn’t disclose possible tax rates, he said the aim is to lower them “on par with Singapore.”

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