Indonesia is widening its tax net to target global technology giants like Google and Facebook, a strategy that’s raising red flags for fear it may deter foreign investment, according to Bloomberg. Finance Minister Sri Mulyani Indrawati is seeking to squeeze more revenue out of an economy that’s been hit by weak commodity prices and subdued demand from China, Indonesia’s biggest trading partner.
Halfway through a tax amnesty plan, the government has raised almost 100 trillion rupiah ($7.4 billion) in income from penalties and is now turning its focus to companies like Apple, Twitter and Yahoo!. The latest salvo from the tax office underscores the challenge President Joko Widodo faces in funding his ambitious infrastructure goals, and the risk that it may backfire by scaring off investors.
“We’re just looking for fair treatment,“ said Lin Neumann, managing director of the American Chamber of Commerce in Indonesia. “The concern is that if companies feel that they’re spending an enormous amount of time in negotiations over tax assessments that go beyond what they believe they have agreed to in their contracts and under the law, then that can hurt foreign investment. If companies end up in a kind of red-tape situation, that is not conducive to making plans for growth. Ultimately, that situation hurts Indonesia,“ he said.
When the largest amusement park in Germany, Europa-Park, began constructing its new Croatia area, it found inspiration in Rimac hypercars and technology for its new rollercoaster – the Voltron Nevera Powered by Rimac.
Following the end of the public delisting acquisition offer for Telefónica Deutschland, Telefónica holds approximately 96.85% of the shares in its German subsidiary.
Infobip Shift Miami, the American version of the Croatian developer conference, this week brought together a diverse technology-sector audience on the shores of Florida.
