Indonesia deprived of billions of dollars in tax income as firms shift profits abroad

Writer: Vincent Fabian Thomas

Indonesia is believed to be losing around one-tenth of would-be corporate tax revenue as companies reduce tax bills by shifting profits overseas.

Based on a recently published study, the state is estimated to have been deprived of at least US$2.47 billion in income as companies shifted more than $9.88 billion worth of profits to tax havens in 2018. Equivalent to 11 percent of the country’s corporate tax revenue, that was a shade above the global average loss of 10 percent, the researchers behind the study found in August.

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