This would explain why the European Union's tax-to-GDP ratio of 26.7% in 2022 was so much higher than most Asia-Pacific nations.3Tax-to-GDP ratios in these countries ranged from 10.9% in Indonesia to 25.3% in Samoa. Only Japan, Korea, New Zealand, and Nauru were higher than the EU,...
JAKARTA, May 19 (Xinhua) -- The Indonesian government has targeted a higher revenue from tax next year in a bid to help financing the country's huge infrastructure projects. Finance Minister Sri Mulyani Indrawati disclosed on Friday that the government decided to rise tax-to-GDP ratio to 11-...
And in contrast, the only two lower-middle income countries in the G20, India and Indonesia, are in the bottom three. The World Bank says a 15% ratio is critical for economic growth and poverty reduction. A 10-year study estimated that the per capita GDP for countries that hit the 15...
From 2010 to 2020, Indonesia's tax-to-gross domestic product ratio has been declining. A tax-to-GDP ratio trend of this magnitude indicates that the tax authority lacks the capacity to collect taxes. The tax administration system's modernization utilizing information technology is thus deemed ...
The government has argued that it must cease tax exemptions to address the country’s low tax‑to‑GDP ratio, and better align taxes with global rates. The international investment community has been highly critical of the move.
Vietnam has relatively high taxes as a percentage of GDP. According to the World Bank , the tax revenue to GDP ratio of Vietnam is relatively stable at 18 percent. Do expats pay tax in Vietnam? Yes, expats pay tax in Vietnam. Individuals working in Vietnam (including foreigners) have ...
of the China’s total fiscal revenue and 14.1% of GDP of the same year。Out of the total tax revenue,VAT amounts to 534.69 billion yuan,accounting for 40.8% of th e tax revenue;Consumption Tax 86.97 billion yuan,6.6%;Business Tax 188.57 bill ...
Non Performing Loans Ratio (%) 1.5 Nov 2024 monthly Dec 2005 - Nov 2024 Household Debt: % of GDP (%) 84.2 2023 yearly 2002 - 2023 Non-Performing Loans (USD mn) 7,586.980 Nov 2024 monthly Dec 2005 - Nov 2024 Money Supply M1 (USD mn) 147,455.399 Oct 2024 monthly Dec 1969 - ...
This is because the tax gap causes a large loss of public revenue in various countries, including Indonesia. Referring to 2019 tax realization data, the tax gap in Indonesia reached 8.5%, and the ability to collect taxes was 9.76% of the gross domestic product (GDP) [29]. This percentage...
Excluding the US, the eight largest economies that applied a worldwide tax system in 2017 were China, India, Brazil, South Korea, Mexico, Indonesia, Argentina, and Taiwan.5 Thus, our findings help policymakers to assess the costs and benefits of worldwide tax systems. Second, with the ...