Indonesia targets higher tax revenue next year

Source: Xinhua| 2017-05-19 20:04:14|Editor: liuxin
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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 11-12 percent next year from 10.36 percent last year.

To achieve the goal, the government has undertaken a strong reform in the sector, she said.

Besides, the government's participation in the global efforts in creating transparency in the sector is expected to help achieve the target, said Mulyani.

This week, the government issued a policy which allows tax authority to access banks' data.

"With more international cooperation, we expect it will provide us more information that will prevent more tax avoidance. We will continue to carry out reform," Mulyani said.

President Joko Widodo, who came into office in October 2014, aims to pursue over 7 percent GDP growth at the end of his five-year term by constructing huge infrastructure projects.