A worker holds Rupiah banknotes at a money exchange point in Medan, North Sumatra, Indonesia. Photo: EPA A worker holds Rupiah banknotes at a money exchange point in Medan, North Sumatra, Indonesia. Photo: EPA
A worker holds Rupiah banknotes at a money exchange point in Medan, North Sumatra, Indonesia. Photo: EPA
Indonesia

Indonesia targets its crazy rich Asians with 35 per cent income tax in bid to heal coronavirus-hit economy

  • Those earning more than US$350,000 a year face the new rate as part of proposed overhaul that will also add VAT to foodstuffs, education and health care and target major carbon emitters
  • Taxing the rich could prove lucrative for Southeast Asia’s largest economy, where ultra-high-net-worth individuals are proliferating at an even greater rate than in China

Topic |   Indonesia
A worker holds Rupiah banknotes at a money exchange point in Medan, North Sumatra, Indonesia. Photo: EPA A worker holds Rupiah banknotes at a money exchange point in Medan, North Sumatra, Indonesia. Photo: EPA
A worker holds Rupiah banknotes at a money exchange point in Medan, North Sumatra, Indonesia. Photo: EPA
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