"The government estimates that there are still many overseas assets worth hundreds of trillions to quadrillions of rupiahs unreported by taxpayers."

The Law on Tax Regulations Harmonization paved its way into the plenary, bringing a new tax regime that is less of exceptions; revenue-oriented tax crime settlement; and provide the basis for the second tax amnesty and carbon tax.

“Data and reports show the possibility of another COVID-19 wave.”

The carbon tax implementation plan, set out in the Bill on General Tax Provisions and Procedures, invokes pros and cons. The refusal mainly came from entrepreneurs who complained about the potential production costs hike, leading to higher prices.

The COVID-19 pandemic is far from over. All countries, including Indonesia, are still struggling to deal with the global outbreak. Almost all sectors are affected, from health, social, economic, including business and employment sustainability.

"The hope for herd immunity from the vaccination program is getting far from reality. Without strategic policy shift, Indonesia could be among the last countries in eradicating the pandemic,"

The government finally decided to scrap the Gotong Royong Vaccination or privately paid vaccination program for individuals, which, according to the plan, would have been distributed by PT Kimia Farma Tbk.

PPKM Darurat was the government response to COVID-19 case spikes over the last few weeks in Indonesia.

The government plans to revise and review the tax regulations, such as adjusting the VAT system, adding personal income tax brackets, and imposing plastic excise, to boost the tax revenue and return to the three percent fiscal deficit limit.

Indonesia’s geothermal energy potential is one of the largest in the world, reaching up to 23.9 gigawatts or 40 percent of global geothermal reserves. Such abundant resources have prompted the government to develop geothermal energy even further.